FRG Family Wealth Advisors LLC Sells 275 Shares of Salesforce, Inc. (NYSE:CRM)

FRG Family Wealth Advisors LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,222 shares of the CRM provider’s stock after selling 275 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Salesforce were worth $4,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fox Hill Wealth Management raised its stake in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the last quarter. Glassman Wealth Services raised its stake in Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after acquiring an additional 39 shares during the period. Blue Barn Wealth LLC lifted its holdings in Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after purchasing an additional 39 shares during the last quarter. Finally, Catalyst Financial Partners LLC boosted its position in Salesforce by 0.8% during the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock worth $1,254,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, Director Oscar Munoz purchased 2,051 shares of the stock in a transaction on Friday, June 21st. The stock was purchased at an average price of $243.69 per share, for a total transaction of $499,808.19. Following the acquisition, the director now owns 7,026 shares in the company, valued at $1,712,165.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Salesforce news, Director Oscar Munoz purchased 2,051 shares of the business’s stock in a transaction on Friday, June 21st. The shares were purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the acquisition, the director now owns 7,026 shares of the company’s stock, valued at $1,712,165.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The disclosure for this sale can be found here. Insiders have sold 59,892 shares of company stock worth $15,269,897 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.7 %

Shares of NYSE CRM opened at $245.76 on Tuesday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $238.14 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. The company has a 50 day simple moving average of $254.31 and a 200 day simple moving average of $269.24.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Truist Financial reissued a “buy” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Piper Sandler raised their price objective on shares of Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Stifel Nicolaus upped their target price on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Finally, TD Cowen boosted their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $304.41.

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.