Muirfield Wealth Advisors LLC Purchases 68 Shares of Salesforce, Inc. (NYSE:CRM)

Muirfield Wealth Advisors LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,100 shares of the CRM provider’s stock after acquiring an additional 68 shares during the period. Muirfield Wealth Advisors LLC’s holdings in Salesforce were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Bear Mountain Capital Inc. purchased a new position in Salesforce during the fourth quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. grew its position in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The disclosure for this sale can be found here. Insiders sold 232,842 shares of company stock worth $60,982,983 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

CRM traded up $3.41 on Friday, hitting $252.53. 2,975,285 shares of the company’s stock traded hands, compared to its average volume of 6,696,709. The company’s 50 day simple moving average is $247.58 and its 200-day simple moving average is $273.79. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $244.70 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (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 firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the business posted $1.15 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their price target on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. reduced their target price on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Sanford C. Bernstein upped their price target on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Raymond James reiterated a “strong-buy” rating and issued a $325.00 price objective (down from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $292.79.

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.