B. Riley Wealth Advisors Inc. Reduces Stock Position in Salesforce, Inc. (NYSE:CRM)

B. Riley Wealth Advisors Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,932 shares of the CRM provider’s stock after selling 411 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Salesforce were worth $6,824,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Marks Group Wealth Management Inc increased its position in shares of Salesforce by 0.7% during the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares during the period. Spartan Planning & Wealth Management raised its position in Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Roman Butler Fullerton & Co. raised its position in Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after buying an additional 194,224 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $309.64, for a total value of $4,644,600.00. Following the completion of the sale, the chief executive officer now owns 13,101,166 shares in the company, valued at approximately $4,056,645,040.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 615,470 shares of company stock worth $172,557,838. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CRM. TD Cowen cut their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Citigroup reduced their price objective on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Piper Sandler cut their price target on Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Evercore ISI decreased their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Finally, BMO Capital Markets cut their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Trading Down 0.6 %

Shares of CRM opened at $230.49 on Tuesday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The firm has a market capitalization of $223.34 billion, a P/E ratio of 41.46, a P/E/G ratio of 2.04 and a beta of 1.26. The firm has a 50-day moving average price of $267.36 and a 200 day moving average price of $277.12. 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 (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. Sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

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.