Clarity Wealth Advisors LLC Buys 40 Shares of Salesforce Inc. (NYSE:CRM)

by · The Markets Daily

Clarity Wealth Advisors LLC grew its stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,760 shares of the CRM provider’s stock after buying an additional 40 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Salesforce were worth $472,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Abound Financial LLC bought a new stake in shares of Salesforce during the first quarter worth about $31,000. Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce during the fourth quarter worth about $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Salesforce during the fourth quarter worth about $45,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $263.95 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The firm’s fifty day moving average is $272.43 and its 200 day moving average is $289.84. The firm has a market cap of $252.34 billion, a P/E ratio of 41.31, a P/E/G ratio of 2.46 and a beta of 1.36.

Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the firm earned $2.44 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, June 18th. Salesforce’s dividend payout ratio is currently 25.98%.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 405 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 1,142 shares of Salesforce stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $299,603.70. Following the sale, the insider owned 136,824 shares in the company, valued at $35,895,776.40. This represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,284 shares of company stock valued at $9,444,537 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens decreased their target price on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a research report on Friday, May 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $370.00 price objective on shares of Salesforce in a research report on Tuesday, June 10th. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Macquarie reaffirmed a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $348.68.

Check Out Our Latest Report on CRM

Salesforce Company Profile

(Free Report)

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.

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