Paces Ferry Wealth Advisors LLC Cuts Position in Salesforce, Inc. (NYSE:CRM)

Paces Ferry Wealth Advisors LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,465 shares of the CRM provider’s stock after selling 90 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Salesforce were worth $1,148,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Red Tortoise LLC acquired a new position in shares of Salesforce during the 1st quarter valued at $33,000. Clear Investment Research LLC boosted its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Finally, Stephens Consulting LLC increased its holdings in 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 purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Oscar Munoz acquired 2,051 shares of Salesforce stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average price of $243.69 per share, with a total value of $499,808.19. Following the completion of the acquisition, the director now directly owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,576 shares of company stock worth $16,957,573. 3.20% of the stock is owned by company insiders.

Salesforce Trading Down 1.1 %

Shares of NYSE CRM opened at $252.42 on Thursday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market cap of $244.59 billion, a price-to-earnings ratio of 45.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $253.60 and its 200 day simple moving average is $267.01.

Salesforce (NYSE:CRM) last posted its earnings results 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 company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $1.63 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays reduced their price objective on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley upped their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and set a $300.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Piper Sandler upped their target price on shares of Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Mizuho lowered their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $305.55.

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.