Salesforce, Inc. (NYSE:CRM) Shares Sold by Invera Wealth Advisors LLC

Invera Wealth Advisors LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,532 shares of the CRM provider’s stock after selling 213 shares during the period. Salesforce accounts for about 1.7% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 21st largest position. Invera Wealth Advisors LLC’s holdings in Salesforce were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Ruedi Wealth Management Inc. lifted its stake in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank grew its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Red Tortoise LLC acquired a new stake in shares of Salesforce in the first quarter worth $33,000. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Finally, Creekmur Asset Management LLC acquired a new position in shares of Salesforce during the 4th quarter valued at $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Craig Conway sold 6,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the transaction, the director now owns 6,855 shares in the company, valued at approximately $1,642,732.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Craig Conway sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the sale, the director now owns 6,855 shares in the company, valued at approximately $1,642,732.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold 68,692 shares of company stock worth $17,380,857 in the last three months. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Robert W. Baird raised their price objective on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler increased their price objective on shares of Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Macquarie lowered their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Trading Down 0.9 %

Shares of NYSE:CRM opened at $243.97 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $254.52 and its 200 day moving average price is $269.58. The company has a market cap of $233.24 billion, a PE ratio of 43.88, a P/E/G ratio of 2.21 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

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.