Legacy Advisors LLC Purchases 226 Shares of Salesforce Inc. (NYSE:CRM)

Legacy Advisors LLC grew its position in Salesforce Inc. (NYSE:CRM) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,106 shares of the CRM provider’s stock after acquiring an additional 226 shares during the quarter. Legacy Advisors LLC’s holdings in Salesforce were worth $1,639,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $27,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $35,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Salesforce in the 4th quarter worth approximately $45,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now owns 29,190 shares of the company’s stock, valued at $8,416,644.60. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 705 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now directly owns 9,323 shares in the company, valued at $2,605,219.12. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,992 shares of company stock worth $6,704,198. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.0%

NYSE:CRM opened at $263.14 on Tuesday. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $251.56 billion, a P/E ratio of 41.18, a P/E/G ratio of 2.36 and a beta of 1.38. The stock’s fifty day simple moving average is $268.69 and its 200-day simple moving average is $296.11.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 earnings per share. Equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Westpark Capital reissued a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Erste Group Bank cut Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Oppenheimer reaffirmed an “outperform” rating and set a $370.00 price target on shares of Salesforce in a report on Tuesday, June 10th. Finally, DA Davidson reaffirmed an “underperform” rating and set a $200.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $349.08.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.