Carolinas Wealth Consulting LLC Sells 396 Shares of Salesforce, Inc. (NYSE:CRM)

Carolinas Wealth Consulting LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 74.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133 shares of the CRM provider’s stock after selling 396 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Salesforce were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in Salesforce by 6.9% during the fourth 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 in the last quarter. Aveo Capital Partners LLC lifted its stake in Salesforce by 44.7% in the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock valued at $422,000 after acquiring an additional 496 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in Salesforce by 24.0% in the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock valued at $1,706,000 after acquiring an additional 1,253 shares during the last quarter. Gryphon Financial Partners LLC grew its position 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 valued at $1,064,000 after acquiring an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC increased its stake in shares of Salesforce by 1.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock worth $2,115,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Macquarie reduced their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Truist Financial reiterated a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a research note on Thursday. Raymond James boosted their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group raised their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Barclays decreased their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $306.00.

Insider Activity

In other Salesforce news, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $406,612.96. Following the completion of the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $402,735.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Brian Millham sold 1,678 shares of the business’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 $406,612.96. Following the sale, the chief operating officer now directly owns 1,662 shares in the company, valued at $402,735.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,576 shares of company stock worth $16,957,573. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $265.87 on Friday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. 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 stock’s 50-day simple moving average is $253.90 and its 200 day simple moving average is $267.00. The firm has a market capitalization of $257.63 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued 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 presently 28.78%.

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.