One Wealth Management Investment & Advisory Services LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

One Wealth Management Investment & Advisory Services LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 76.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,590 shares of the CRM provider’s stock after selling 5,270 shares during the quarter. Salesforce comprises about 0.8% of One Wealth Management Investment & Advisory Services LLC’s investment portfolio, making the stock its 22nd largest position. One Wealth Management Investment & Advisory Services LLC’s holdings in Salesforce were worth $435,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. KBC Group NV raised its stake in shares of Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. Summit Asset Management LLC purchased a new stake in shares of Salesforce in the third quarter valued at $221,000. Bouvel Investment Partners LLC raised its stake in shares of Salesforce by 0.5% in the third quarter. Bouvel Investment Partners LLC now owns 19,520 shares of the CRM provider’s stock valued at $5,343,000 after acquiring an additional 94 shares during the period. Fortis Capital Management LLC purchased a new stake in shares of Salesforce in the third quarter valued at $2,952,000. Finally, Plato Investment Management Ltd raised its stake in shares of Salesforce by 2.3% in the third quarter. Plato Investment Management Ltd now owns 29,864 shares of the CRM provider’s stock valued at $8,166,000 after acquiring an additional 684 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

NYSE CRM opened at $341.72 on Thursday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. 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 business’s fifty day simple moving average is $283.28 and its 200-day simple moving average is $265.84. The firm has a market cap of $326.68 billion, a PE ratio of 59.43, a P/E/G ratio of 3.09 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRM. UBS Group upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Jefferies Financial Group increased their target price on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm reiterated a “buy” rating and set a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Wedbush raised their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, TD Cowen raised their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $318.23.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by corporate insiders.

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.