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Elyxium Wealth LLC Invests $1.38 Million in Salesforce Inc. (NYSE:CRM)

Salesforce logo with Computer and Technology background

Elyxium Wealth LLC bought a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,136 shares of the CRM provider's stock, valued at approximately $1,378,000.

Other institutional investors have also bought and sold shares of the company. OneAscent Family Office LLC purchased a new stake in Salesforce in the 1st quarter valued at about $221,000. 1ST Source Bank increased its position in shares of Salesforce by 6.8% during the 1st quarter. 1ST Source Bank now owns 5,839 shares of the CRM provider's stock valued at $1,567,000 after purchasing an additional 370 shares during the last quarter. Berkeley Capital Partners LLC raised its stake in shares of Salesforce by 4.4% during the 1st quarter. Berkeley Capital Partners LLC now owns 1,591 shares of the CRM provider's stock worth $427,000 after purchasing an additional 67 shares during the period. Calton & Associates Inc. purchased a new position in shares of Salesforce in the 1st quarter worth about $6,046,000. Finally, Kestra Private Wealth Services LLC grew its position in Salesforce by 5.5% during the first quarter. Kestra Private Wealth Services LLC now owns 72,249 shares of the CRM provider's stock valued at $19,389,000 after buying an additional 3,735 shares during the period. Institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider owned 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 4,586 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $1,163,284.76. Following the transaction, the insider directly owned 33,273 shares of the company's stock, valued at $8,440,029.18. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,819 shares of company stock valued at $9,111,823 over the last quarter. Company insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRM shares. UBS Group set a $404.00 price target on Salesforce and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Oppenheimer reissued an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a research report on Tuesday, June 10th. Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. DA Davidson reiterated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $275.00 target price on shares of Salesforce in a research report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Check Out Our Latest Analysis on Salesforce

Salesforce Trading Up 1.0%

Salesforce stock traded up $2.52 during trading hours on Friday, reaching $262.40. The company had a trading volume of 6,376,432 shares, compared to its average volume of 6,563,887. The firm has a market cap of $250.85 billion, a price-to-earnings ratio of 41.06, a P/E/G ratio of 2.38 and a beta of 1.36. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average price of $270.45 and a 200 day moving average price of $286.17.

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

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

Salesforce Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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