1,309 Shares in Salesforce Inc. (NYSE:CRM) Purchased by FWG Holdings LLC

FWG Holdings LLC acquired a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,309 shares of the CRM provider's stock, valued at approximately $350,000.

Several other hedge funds also recently bought and sold shares of the company. Welch & Forbes LLC boosted its stake in shares of Salesforce by 1.4% in the 1st quarter. Welch & Forbes LLC now owns 9,526 shares of the CRM provider's stock valued at $2,556,000 after purchasing an additional 131 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its stake in shares of Salesforce by 2.0% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 20,479 shares of the CRM provider's stock valued at $5,496,000 after purchasing an additional 399 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Salesforce by 4.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 86,859 shares of the CRM provider's stock valued at $23,309,000 after purchasing an additional 3,978 shares in the last quarter. Capital A Wealth Management LLC boosted its stake 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 purchasing an additional 90 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Salesforce by 0.8% during the 1st quarter. Victory Capital Management Inc. now owns 506,104 shares of the CRM provider's stock valued at $135,818,000 after buying an additional 3,940 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $260.30, for a total transaction of $585,675.00. Following the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at $3,112,033,829.80. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Srinivas Tallapragada sold 1,269 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $332,922.15. Following the transaction, the insider owned 42,678 shares in the company, valued at $11,196,573.30. This trade represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,569 shares of company stock valued at $8,533,528 in the last three months. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CRM. Mizuho decreased their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Citigroup decreased their price objective on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 30th. UBS Group set a $404.00 price objective on shares of Salesforce and gave the stock an "overweight" rating in a report on Wednesday, June 18th. Canaccord Genuity Group reduced their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, Piper Sandler increased their price objective on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $348.16.

Salesforce Price Performance

Shares of Salesforce stock traded up $1.71 on Thursday, hitting $259.66. 5,800,815 shares of the company traded hands, compared to its average volume of 6,551,577. The stock has a market capitalization of $248.23 billion, a P/E ratio of 40.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The business has a 50-day simple moving average of $271.11 and a 200 day simple moving average of $287.52.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last 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. Research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

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.