Moloney Securities Asset Management LLC Sells 350 Shares of Salesforce, Inc. (NYSE:CRM)

Moloney Securities Asset Management LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 5,073 shares of the CRM provider’s stock after selling 350 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Salesforce were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Norges Bank bought a new stake in shares of Salesforce during the 4th quarter worth approximately $2,762,331,000. Capital International Investors increased its holdings in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Salesforce during the 1st quarter worth approximately $910,220,000. Finally, Swedbank AB acquired a new position in shares of Salesforce during the 1st quarter worth approximately $874,748,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.6 %

Shares of CRM stock opened at $252.90 on Friday. The stock has a market cap of $245.06 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 2.22 and a beta of 1.29. The stock has a 50-day moving average of $254.28 and a 200-day moving average of $271.44. 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 1-year low of $193.68 and a 1-year high of $318.71.

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

Salesforce Announces Dividend

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

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,912,044.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, Director G Mason Morfit bought 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was acquired at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,912,044.90. The disclosure for this sale can be found here. Insiders sold 112,964 shares of company stock valued at $27,956,647 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRM shares. Truist Financial reissued a “buy” rating and set a $300.00 target price on shares of Salesforce in a report on Friday. Oppenheimer boosted their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company boosted their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup upped their price objective on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Barclays decreased their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.00.

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.