Carolinas Wealth Consulting LLC Has $34,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Carolinas Wealth Consulting LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 74.9% in the second quarter, HoldingsChannel.com reports. The firm owned 133 shares of the CRM provider’s stock after selling 396 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Salesforce were worth $34,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares during the period. Capital Research Global Investors boosted its position in shares of Salesforce by 26.9% during 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 purchasing an additional 3,044,611 shares in the last quarter. GQG Partners LLC acquired a new stake in Salesforce during the first quarter worth approximately $910,220,000. Swedbank AB bought a new stake in Salesforce in the first quarter worth approximately $874,748,000. Finally, Coatue Management LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $564,188,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Raymond James increased their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. TD Cowen raised their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. UBS Group boosted their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Truist Financial restated a “buy” rating and set a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a report on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

Insider Buying and Selling

In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,576 shares of company stock valued at $16,957,573. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $265.87 on Friday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. 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 business’s 50 day simple moving average is $253.90 and its 200 day simple moving average is $267.00. The company has a market cap of $257.63 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is currently 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.