Salesforce, Inc. (NYSE:CRM) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,535 shares of the CRM provider’s stock after selling 305 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Salesforce were worth $1,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Piper Sandler reiterated a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Truist Financial reiterated a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, UBS Group boosted their price objective on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Trading Up 1.0 %

NYSE:CRM traded up $2.76 during trading hours on Tuesday, reaching $278.39. 1,565,464 shares of the stock were exchanged, compared to its average volume of 5,504,298. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $293.74 and a two-hundred day moving average of $267.47. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a market capitalization of $269.48 billion, a price-to-earnings ratio of 66.27, a PEG ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $292.43, for a total value of $4,386,450.00. Following the transaction, the chief executive officer now owns 13,521,166 shares of the company’s stock, valued at $3,953,994,573.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 24,453 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 619,993 shares of company stock valued at $181,241,324. 3.70% of the stock is currently owned by company insiders.

Salesforce 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.