OneAscent Financial Services LLC Sells 1,227 Shares of Salesforce, Inc. (NYSE:CRM)

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

Several other hedge funds have also recently bought and sold shares of CRM. Bessemer Group Inc. boosted its position in Salesforce by 103.5% during the 1st quarter. Bessemer Group Inc. now owns 54,761 shares of the CRM provider’s stock worth $16,494,000 after buying an additional 27,850 shares during the period. Vaughan David Investments LLC IL acquired a new position in shares of Salesforce during the 1st quarter valued at $324,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Salesforce by 31.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 81,100 shares of the CRM provider’s stock valued at $24,426,000 after acquiring an additional 19,200 shares during the period. InterOcean Capital Group LLC increased its stake in Salesforce by 18.0% during the 1st quarter. InterOcean Capital Group LLC now owns 4,062 shares of the CRM provider’s stock valued at $1,223,000 after purchasing an additional 621 shares in the last quarter. Finally, Evermay Wealth Management LLC increased its stake in Salesforce by 5.1% during the 1st quarter. Evermay Wealth Management LLC now owns 1,879 shares of the CRM provider’s stock valued at $566,000 after purchasing an additional 91 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRM. Sanford C. Bernstein upped their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Scotiabank assumed coverage on shares of Salesforce in a report on Monday. They issued a “sector outperform” rating and a $425.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Finally, BMO Capital Markets increased their price target on shares of Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $325.36.

Salesforce Price Performance

NYSE CRM opened at $322.25 on Tuesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The stock has a 50-day moving average of $288.14 and a 200 day moving average of $266.96. The company has a market capitalization of $308.07 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

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

Insider Buying and Selling

In other news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,173 shares of company stock valued at $40,146,206. Corporate insiders own 3.20% of the company’s stock.

Salesforce 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.