OneAscent Financial Services LLC Has $400,000 Position in Salesforce, Inc. (NYSE:CRM)

OneAscent Financial Services LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 45.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,459 shares of the CRM provider’s stock after selling 1,227 shares during the period. OneAscent Financial Services LLC’s holdings in Salesforce were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Capital Research Global Investors lifted its holdings in 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 during the last quarter. Capital International Investors raised its stake in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Salesforce by 25.1% in the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after acquiring an additional 877,495 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,173 shares of company stock worth $40,146,206. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 0.9 %

Salesforce stock opened at $322.25 on Tuesday. The company has a market cap of $308.07 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The company has a fifty day simple moving average of $288.14 and a 200 day simple moving average of $266.96. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced 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. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Loop Capital boosted their target price on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price target on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. BMO Capital Markets boosted their price target on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Phillip Securities reissued an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $325.36.

Salesforce Company 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.