Capital Advisors Wealth Management LLC Has $1.48 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Capital Advisors Wealth Management LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,420 shares of the CRM provider’s stock after selling 360 shares during the period. Capital Advisors Wealth Management LLC’s holdings in Salesforce were worth $1,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XN LP boosted its position in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after buying an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after buying an additional 2,589 shares in the last quarter. M&G Plc acquired a new position in Salesforce in the first quarter valued at about $2,178,000. First Foundation Advisors raised its stake in shares of Salesforce by 38.0% in the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after acquiring an additional 228 shares during the last quarter. Finally, St. Johns Investment Management Company LLC raised its stake in shares of Salesforce by 4.1% in the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock worth $1,757,000 after acquiring an additional 228 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.1 %

Salesforce stock opened at $288.31 on Wednesday. The stock has a market capitalization of $279.37 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $263.98 and a 200-day moving average of $263.46.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,412 shares of company stock worth $20,212,507. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRM shares. UBS Group boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Oppenheimer boosted their target price on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

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.