Austin Private Wealth LLC Sells 104 Shares of Salesforce, Inc. (NYSE:CRM)

Austin Private Wealth LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 2,687 shares of the CRM provider’s stock after selling 104 shares during the quarter. Austin Private Wealth LLC’s holdings in Salesforce were worth $691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Graypoint LLC raised its stake in shares of Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after purchasing an additional 36 shares during the last quarter. Chase Investment Counsel Corp raised its stake in shares of Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC raised its stake in shares of Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the last quarter. Finally, Fox Hill Wealth Management raised its stake in shares of Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.4 %

Shares of CRM traded up $3.41 during trading hours on Friday, hitting $252.53. The company had a trading volume of 2,975,285 shares, compared to its average volume of 6,696,709. The firm has a market cap of $244.70 billion, a P/E ratio of 45.42, a P/E/G ratio of 2.22 and a beta of 1.29. The stock’s 50 day moving average price is $247.58 and its 200 day moving average price is $273.79. 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, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 earnings per share. On average, research analysts predict that Salesforce, Inc. will post 7.47 EPS 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 issued 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 Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $276.93, for a total transaction of $1,163,106.00. Following the completion of the transaction, the insider now owns 115,762 shares of the company’s stock, valued at approximately $32,057,970.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $276.93, for a total value of $1,163,106.00. Following the sale, the insider now owns 115,762 shares in the company, valued at approximately $32,057,970.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $276.84, for a total value of $4,152,600.00. Following the completion of the sale, the chief executive officer now owns 12,587,327 shares in the company, valued at approximately $3,484,675,606.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,842 shares of company stock worth $60,982,983. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CRM shares. TD Cowen lowered their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. UBS Group decreased their price target on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Piper Sandler reaffirmed a “neutral” rating and set a $250.00 price target on shares of Salesforce in a research report on Friday, July 12th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, Truist Financial reaffirmed a “buy” rating and set a $300.00 price target (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus 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.