Salesforce Inc. (NYSE:CRM) Shares Acquired by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 34.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,948 shares of the CRM provider's stock after buying an additional 1,270 shares during the quarter. Journey Strategic Wealth LLC's holdings in Salesforce were worth $1,328,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after acquiring an additional 175,035 shares during the period. Northern Trust Corp increased its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after buying an additional 1,736,667 shares during the period. Norges Bank acquired a new position in Salesforce in the 4th quarter valued at $3,599,867,000. Price T Rowe Associates Inc. MD grew its stake in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Salesforce by 7.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider's stock worth $2,894,673,000 after purchasing an additional 602,445 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $266.56, for a total value of $599,760.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,175,148,365.76. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 33,479 shares of company stock valued at $9,091,796 over the last three months. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 0.2%

NYSE CRM traded up $0.40 during mid-day trading on Thursday, hitting $267.62. The company's stock had a trading volume of 5,872,478 shares, compared to its average volume of 6,745,871. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The stock's fifty day simple moving average is $268.50 and its two-hundred day simple moving average is $284.66. 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 firm has a market capitalization of $255.85 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 2.42 and a beta of 1.36.

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 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 analyst estimates of $9.74 billion. During the same quarter last year, the firm posted $2.44 earnings per share. Salesforce'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 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.62%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Oppenheimer reaffirmed an "outperform" rating and set a $370.00 price target on shares of Salesforce in a research note on Tuesday, June 10th. Mizuho lowered their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Finally, Piper Sandler upped their price target on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

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.