Salesforce, Inc. (NYSE:CRM) Stock Position Lessened by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 9.8% in the 4th quarter, HoldingsChannel reports. The firm owned 55,674 shares of the CRM provider’s stock after selling 6,067 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Salesforce were worth $14,650,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cerity Partners LLC boosted its stake in Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Salesforce by 23,653.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after buying an additional 1,400,300 shares in the last quarter. Lone Pine Capital LLC boosted its stake in Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Salesforce by 330.0% during the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after buying an additional 718,245 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in Salesforce during the third quarter valued at about $114,521,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM traded down $4.47 during midday trading on Thursday, reaching $271.72. The company’s stock had a trading volume of 2,070,286 shares, compared to its average volume of 5,651,590. The stock has a market cap of $263.57 billion, a P/E ratio of 64.14, a PEG ratio of 2.13 and a beta of 1.28. The company has a fifty day simple moving average of $296.65 and a 200 day simple moving average of $263.37. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. KeyCorp assumed coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. UBS Group upped their target price on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Bank of America upped their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 4,096 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $1,118,822.40. Following the completion of the sale, the chief financial officer now owns 49,290 shares in the company, valued at approximately $13,463,563.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 4,096 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $1,118,822.40. Following the completion of the sale, the chief financial officer now owns 49,290 shares in the company, valued at approximately $13,463,563.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 616,589 shares of company stock valued at $181,071,306 in the last 90 days. 3.70% of the stock is currently owned by insiders.

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.