Salesforce Inc. $CRM Shares Acquired by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC has increased its stake in Salesforce Inc. by 26.7%, acquiring an additional 2,400 shares, bringing its total holdings to 11,391 shares worth approximately $3.06 million.
• Salesforce's CEO, Marc Benioff, recently sold 2,250 shares for over $557,000, leading to a minor decrease in his ownership.
• Recent analyst reports show mixed ratings on Salesforce stock, with target prices ranging from $295 to $404 and a consensus rating of "Moderate Buy."

CreativeOne Wealth LLC boosted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 26.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,391 shares of the CRM provider's stock after purchasing an additional 2,400 shares during the quarter. CreativeOne Wealth LLC's holdings in Salesforce were worth $3,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $27,000. Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $35,000. Capital A Wealth Management LLC increased its holdings in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its holdings in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 59,327 shares of company stock valued at $15,201,738 over the last ninety days. Corporate insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lowered their price target on Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Piper Sandler boosted their price target on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. JMP Securities reiterated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a report on Friday, July 11th. Sanford C. Bernstein boosted their price target on Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a report on Thursday, May 29th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $404.00 price target (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and an average price target of $341.47.

Salesforce Stock Performance

CRM traded up $1.84 during trading on Friday, reaching $256.37. 7,354,032 shares of the company were exchanged, compared to its average volume of 8,243,193. The stock has a market cap of $245.09 billion, a P/E ratio of 40.12, a PEG ratio of 2.33 and a beta of 1.37. The firm has a 50 day moving average of $257.34 and a 200 day moving average of $269.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.6%. Salesforce's dividend payout ratio is presently 25.98%.

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.