Salesforce, Inc. (NYSE:CRM) Holdings Reduced by Ieq Capital LLC

Ieq Capital LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 378,981 shares of the CRM provider’s stock after selling 29,441 shares during the period. Salesforce makes up approximately 1.3% of Ieq Capital LLC’s holdings, making the stock its 17th biggest position. Ieq Capital LLC’s holdings in Salesforce were worth $97,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its stake in shares of Salesforce by 6.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after acquiring an additional 366 shares during the period. Aveo Capital Partners LLC lifted its stake in shares of Salesforce by 44.7% in the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares during the period. 9258 Wealth Management LLC lifted its stake in shares of Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after acquiring an additional 1,253 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of Salesforce by 32.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after acquiring an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC lifted its stake in shares of Salesforce by 1.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock worth $2,115,000 after acquiring an additional 133 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRM. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Loop Capital reissued a “hold” rating and set a $270.00 target price on shares of Salesforce in a research note on Thursday. Truist Financial reissued a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a research note on Thursday. Finally, Barclays cut their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.00.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 1,678 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96. Following the transaction, the chief operating officer now owns 1,662 shares in the company, valued at approximately $402,735.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Brian Millham sold 1,678 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the transaction, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $402,735.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 66,576 shares of company stock worth $16,957,573 in the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 5.3 %

Salesforce stock opened at $265.87 on Friday. The firm has a market cap of $257.63 billion, a PE ratio of 47.82, a P/E/G ratio of 2.26 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. The firm’s 50 day moving average price is $253.90 and its two-hundred day moving average price is $267.00. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

About Salesforce

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.