GFG Capital LLC Sells 63 Shares of Salesforce, Inc. (NYSE:CRM)

GFG Capital LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,470 shares of the CRM provider’s stock after selling 63 shares during the period. GFG Capital LLC’s holdings in Salesforce were worth $635,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the fourth quarter valued at about $26,000. Ruedi Wealth Management Inc. increased its stake in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter valued at about $31,000. Finally, Red Tortoise LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 1.3 %

Shares of NYSE CRM traded down $3.54 during midday trading on Tuesday, hitting $261.84. 5,305,682 shares of the stock traded hands, compared to its average volume of 6,595,926. The company has a market cap of $253.72 billion, a PE ratio of 47.18, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business has a 50 day moving average price of $249.94 and a two-hundred day moving average price of $272.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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

Salesforce Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CRM. Sanford C. Bernstein increased their price objective on shares of Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research note on Thursday, May 30th. Truist Financial reiterated a “buy” rating and issued a $300.00 target price (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Canaccord Genuity Group lowered their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. UBS Group dropped their price target on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Salesforce in a research report on Friday, May 24th. One equities research 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $291.50.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $285.00, for a total transaction of $4,275,000.00. Following the sale, the chief executive officer now owns 12,482,327 shares of the company’s stock, valued at approximately $3,557,463,195. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $285.00, for a total transaction of $4,275,000.00. Following the sale, the chief executive officer now owns 12,482,327 shares of the company’s stock, valued at approximately $3,557,463,195. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $29,932,595.17. The disclosure for this sale can be found here. Insiders have sold 167,936 shares of company stock valued at $42,433,769 in the last 90 days. Insiders own 3.20% of the company’s stock.

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.