Premier Path Wealth Partners LLC Acquires 534 Shares of Salesforce, Inc. (NYSE:CRM)

Premier Path Wealth Partners LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,280 shares of the CRM provider’s stock after purchasing an additional 534 shares during the period. Premier Path Wealth Partners LLC’s holdings in Salesforce were worth $2,386,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CRM. Verdence Capital Advisors LLC grew its holdings in Salesforce by 4.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,925 shares of the CRM provider’s stock worth $506,000 after acquiring an additional 86 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in Salesforce by 6.9% in the 4th quarter. Capital Investment Advisory Services LLC now owns 2,430 shares of the CRM provider’s stock worth $639,000 after acquiring an additional 156 shares during the last quarter. MCF Advisors LLC lifted its position in shares of Salesforce by 39.5% in the 4th quarter. MCF Advisors LLC now owns 166 shares of the CRM provider’s stock worth $44,000 after purchasing an additional 47 shares during the period. RWA Wealth Partners LLC lifted its position in shares of Salesforce by 674.1% in the 4th quarter. RWA Wealth Partners LLC now owns 17,649 shares of the CRM provider’s stock worth $4,644,000 after purchasing an additional 15,369 shares during the period. Finally, 1900 Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth about $255,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CRM shares. Citigroup dropped their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets dropped their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a research report on Friday, May 24th. TD Cowen lowered their price target on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group reduced their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $291.50.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $269.32, for a total value of $4,039,800.00. Following the transaction, the chief executive officer now owns 12,437,327 shares of the company’s stock, valued at $3,349,620,907.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $269.32, for a total value of $4,039,800.00. Following the sale, the chief executive officer now owns 12,437,327 shares of the company’s stock, valued at $3,349,620,907.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $269.26, for a total transaction of $1,130,892.00. Following the completion of the transaction, the insider now directly owns 115,762 shares in the company, valued at approximately $31,170,076.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,964 shares of company stock valued at $35,273,059. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

NYSE:CRM traded up $5.33 during trading hours on Friday, hitting $263.92. 4,709,214 shares of the stock traded hands, compared to its average volume of 6,563,299. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a 50 day moving average price of $252.09 and a 200 day moving average price of $272.22. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $255.74 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping 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 the consensus estimate of $9.15 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.