Bryn Mawr Capital Management LLC Sells 247 Shares of Salesforce, Inc. (NYSE:CRM)

Bryn Mawr Capital Management LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,384 shares of the CRM provider’s stock after selling 247 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Salesforce were worth $2,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the first 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 in the last quarter. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% in the second 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. Red Tortoise LLC bought a new stake in Salesforce in the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. DA Davidson upped their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lowered their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Morgan Stanley upped their target price on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday. Phillip Securities reissued an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday. Finally, Macquarie lowered their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $302.00.

Salesforce Stock Down 1.6 %

Shares of NYSE CRM opened at $252.90 on Friday. The company has a market capitalization of $245.06 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company’s 50 day moving average price is $254.44 and its 200-day moving average price is $271.20.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 EPS. Equities analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Activity

In related news, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were 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 owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was bought at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the purchase, the director now directly owns 3,914,309 shares in the company, valued at $912,699,429.53. The disclosure for this purchase can be found here. Insiders sold 112,964 shares of company stock worth $27,956,647 in the last quarter. 3.20% of the stock is owned by corporate insiders.

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.