Embree Financial Group Sells 421 Shares of Salesforce, Inc. (NYSE:CRM)

Embree Financial Group decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,317 shares of the CRM provider’s stock after selling 421 shares during the period. Embree Financial Group’s holdings in Salesforce were worth $1,300,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Advisors Capital Management LLC boosted its stake in Salesforce by 233.2% during the third quarter. Advisors Capital Management LLC now owns 3,602 shares of the CRM provider’s stock worth $730,000 after acquiring an additional 2,521 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Salesforce by 38.4% in the third quarter. Harbour Investments Inc. now owns 1,927 shares of the CRM provider’s stock worth $391,000 after buying an additional 535 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Salesforce by 19.0% in the third quarter. Integrated Advisors Network LLC now owns 14,374 shares of the CRM provider’s stock worth $2,915,000 after buying an additional 2,292 shares in the last quarter. Resources Management Corp CT ADV lifted its stake in shares of Salesforce by 1.2% in the third quarter. Resources Management Corp CT ADV now owns 8,088 shares of the CRM provider’s stock worth $1,640,000 after buying an additional 97 shares in the last quarter. Finally, Spartan Planning & Wealth Management bought a new position in shares of Salesforce in the third quarter worth approximately $191,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CRM shares. Stifel Nicolaus dropped their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Wells Fargo & Company decreased their price objective on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. BMO Capital Markets decreased their price objective on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Oppenheimer decreased their price objective on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, DA Davidson decreased their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Trading Up 0.1 %

CRM traded up $0.18 on Wednesday, reaching $252.61. 8,945,022 shares of the company traded hands, compared to its average volume of 6,954,869. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a fifty day simple moving average of $257.24 and a two-hundred day simple moving average of $276.07. The company has a market cap of $244.78 billion, a P/E ratio of 45.43, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s payout ratio is currently 7.19%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 454,152 shares of company stock valued at $122,552,011 in the last 90 days. Insiders own 3.20% of the company’s stock.

About Salesforce

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.