AAFMAA Wealth Management & Trust LLC Buys 597 Shares of Salesforce, Inc. (NYSE:CRM)

AAFMAA Wealth Management & Trust LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,260 shares of the CRM provider’s stock after purchasing an additional 597 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Salesforce were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth approximately $27,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the 4th quarter valued at $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Miguel Milano sold 705 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock worth $11,024,802 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $274.48 on Friday. The company’s fifty day moving average price is $266.57 and its 200-day moving average price is $302.58. The stock has a market cap of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 12 month low of $227.77 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. On average, equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce’s dividend payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada downgraded shares of Salesforce from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $420.00 to $275.00 in a research note on Thursday, May 29th. Stephens decreased their price objective on Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Jefferies Financial Group lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company boosted their price objective on Salesforce from $255.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $346.34.

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.