CFM Wealth Partners LLC Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

CFM Wealth Partners LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,806 shares of the CRM provider’s stock after selling 199 shares during the quarter. Salesforce accounts for approximately 2.4% of CFM Wealth Partners LLC’s holdings, making the stock its 7th biggest holding. CFM Wealth Partners LLC’s holdings in Salesforce were worth $13,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Czech National Bank grew its holdings in Salesforce by 6.7% during the 3rd quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock worth $54,029,000 after acquiring an additional 12,314 shares during the last quarter. RBA Wealth Management LLC grew its holdings in Salesforce by 3.7% during the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after acquiring an additional 574 shares during the last quarter. GAMMA Investing LLC grew its holdings in Salesforce by 46.8% during the 3rd quarter. GAMMA Investing LLC now owns 10,328 shares of the CRM provider’s stock worth $2,827,000 after acquiring an additional 3,292 shares during the last quarter. Herbst Group LLC grew its holdings in Salesforce by 5.2% during the 3rd quarter. Herbst Group LLC now owns 10,110 shares of the CRM provider’s stock worth $2,767,000 after acquiring an additional 500 shares during the last quarter. Finally, WealthBridge Capital Management LLC bought a new stake in Salesforce during the 3rd quarter worth about $219,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 708 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the sale, the chief operating officer now directly owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CRM shares. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Truist Financial restated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Macquarie reiterated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. UBS Group increased their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley increased their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Down 0.5 %

Shares of Salesforce stock opened at $341.80 on Monday. The business has a fifty day simple moving average of $338.67 and a two-hundred day simple moving average of $297.66. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market capitalization of $327.10 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 3.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

About Salesforce

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.