OneDigital Investment Advisors LLC Has $9.89 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

OneDigital Investment Advisors LLC lowered its position in Salesforce Inc. (NYSE:CRM - Free Report) by 20.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,869 shares of the CRM provider's stock after selling 9,572 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Salesforce were worth $9,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp raised its stake in Salesforce by 2.7% during the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock worth $9,146,000 after acquiring an additional 723 shares in the last quarter. Millstone Evans Group LLC bought a new position in Salesforce during the 4th quarter valued at about $823,000. Heartland Bank & Trust Co boosted its position in Salesforce by 117.2% in the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock valued at $1,605,000 after buying an additional 3,227 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in Salesforce during the fourth quarter worth about $5,249,000. Finally, Elwood Capital Partners LP acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $1,337,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. Mizuho reduced their price objective on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Citigroup decreased their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Piper Sandler boosted their price objective on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. UBS Group set a $404.00 price objective on shares of Salesforce and gave the company an "overweight" rating in a report on Wednesday, June 18th. Finally, Stephens dropped their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Salesforce Stock Performance

NYSE:CRM traded up $2.37 on Friday, hitting $271.58. The company's stock had a trading volume of 5,031,804 shares, compared to its average volume of 6,543,873. 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 one year low of $230.00 and a one year high of $369.00. The stock has a fifty day moving average of $272.28 and a two-hundred day moving average of $291.78. The firm has a market capitalization of $259.63 billion, a P/E ratio of 42.50, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping 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 firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the previous 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 predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider directly owned 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider owned 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,534 shares of company stock worth $7,609,842. 3.20% of the stock is currently owned by insiders.

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.