Triad Wealth Partners LLC Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Triad Wealth Partners LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 90.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437 shares of the CRM provider’s stock after purchasing an additional 684 shares during the period. Triad Wealth Partners LLC’s holdings in Salesforce were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth $26,000. Ruedi Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its holdings in shares of 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 purchasing an additional 96 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth about $31,000. Finally, Red Tortoise LLC acquired a new stake in shares of Salesforce during the first quarter worth about $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM traded up $0.12 during mid-day trading on Friday, reaching $262.91. 3,469,041 shares of the company traded hands, compared to its average volume of 6,614,657. The firm has a market cap of $254.76 billion, a PE ratio of 47.29, a price-to-earnings-growth ratio of 2.22 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. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day simple moving average of $249.47 and a 200-day simple moving average of $273.03.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period last year, the firm posted $1.15 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent analyst reports. Raymond James restated a “strong-buy” rating and issued a $325.00 price objective (down previously from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. BMO Capital Markets cut their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Piper Sandler restated a “neutral” rating and set a $250.00 price objective on shares of Salesforce in a report on Friday, July 12th. Citigroup decreased their price target on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $291.50.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $285.20, for a total value of $1,197,840.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at approximately $33,015,322.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, May 20th. The shares were sold at an average price of $286.90, for a total value of $4,303,500.00. Following the transaction, the chief executive officer now owns 12,512,327 shares in the company, valued at approximately $3,589,786,616.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the completion of the transaction, the insider now owns 115,762 shares in the company, valued at approximately $33,015,322.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,136 shares of company stock valued at $47,935,109. Company insiders own 3.20% of the company’s stock.

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.