OneAscent Wealth Management LLC Trims Holdings in Salesforce, Inc. (NYSE:CRM)

OneAscent Wealth Management LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 12.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,337 shares of the CRM provider’s stock after selling 193 shares during the period. OneAscent Wealth Management LLC’s holdings in Salesforce were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CRM. KRS Capital Management LLC increased its position in Salesforce by 1.6% in the first quarter. KRS Capital Management LLC now owns 5,706 shares of the CRM provider’s stock worth $1,719,000 after buying an additional 90 shares during the period. Astoria Portfolio Advisors LLC. acquired a new position in Salesforce during the first quarter worth about $303,000. Norway Savings Bank grew its holdings in Salesforce by 5.5% during the first quarter. Norway Savings Bank now owns 8,344 shares of the CRM provider’s stock worth $2,513,000 after acquiring an additional 438 shares during the period. Kathmere Capital Management LLC acquired a new position in shares of Salesforce in the first quarter worth about $227,000. Finally, Asio Capital LLC grew its position in Salesforce by 4.3% during the 1st quarter. Asio Capital LLC now owns 16,731 shares of the CRM provider’s stock worth $5,046,000 after purchasing an additional 691 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at $29,193,087.81. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $301.72, for a total value of $4,525,800.00. Following the transaction, the chief executive officer now owns 13,011,166 shares of the company’s stock, valued at $3,925,729,005.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 5,600 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at approximately $29,193,087.81. The disclosure for this sale can be found here. Insiders have sold a total of 547,387 shares of company stock worth $151,174,635 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock traded up $4.25 during trading hours on Friday, hitting $257.10. 12,619,303 shares of the company’s stock were exchanged, compared to its average volume of 11,223,949. The stock’s 50-day moving average is $259.79 and its 200-day moving average is $276.20. 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 market cap of $249.13 billion, a price-to-earnings ratio of 46.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s payout ratio is presently 7.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CRM shares. Evercore ISI decreased their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Macquarie dropped their price objective on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Raymond James reissued a “strong-buy” rating and set a $325.00 price objective (down previously from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price objective on shares of Salesforce in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $292.79.

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.