FRG Family Wealth Advisors LLC Has $4.34 Million Stake in Salesforce, Inc. (NYSE:CRM)

FRG Family Wealth Advisors LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after purchasing an additional 1,008,841 shares during the period. Capital World Investors grew its position in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after buying an additional 457,463 shares in the last quarter. Fisher Asset Management LLC increased its stake in Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after acquiring an additional 736,986 shares during the period. Capital Research Global Investors raised its holdings in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.7 %

Shares of NYSE:CRM opened at $245.76 on Tuesday. 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 stock has a market cap of $238.14 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.21 and a beta of 1.29. The company has a 50 day moving average of $254.31 and a 200-day moving average of $269.24. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.54 earnings per share 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 issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,920,275.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,892 shares of company stock valued at $15,269,897. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CRM shares. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research note on Friday. Citigroup raised their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Piper Sandler upped their price objective on Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $304.41.

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.