Salesforce Inc. (NYSE:CRM) Position Reduced by Oxler Private Wealth LLC

Key Points

• Oxler Private Wealth LLC decreased its stake in Salesforce Inc. by 32.9% in the first quarter, selling 1,801 shares, leaving them with 3,673 shares valued at approximately $986,000.
• Several institutional investors, including Lazard Freres Gestion S.A.S., significantly increased their holdings in Salesforce, highlighting ongoing confidence in the company's potential.
• Salesforce's CEO, Marc Benioff, sold 2,250 shares recently, decreasing his ownership by 0.02%, while overall insider sales totaled 33,479 shares worth over $9 million in the past three months.

Oxler Private Wealth LLC lessened its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,673 shares of the CRM provider's stock after selling 1,801 shares during the quarter. Oxler Private Wealth LLC's holdings in Salesforce were worth $986,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the 4th quarter valued at approximately $27,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce during the fourth quarter worth $35,000. Capital A Wealth Management LLC boosted its position in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRM. Cantor Fitzgerald lowered shares of Salesforce from an "overweight" rating to a "cautious" rating in a research report on Thursday, July 10th. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. The Goldman Sachs Group lifted their price objective on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, UBS Group set a $404.00 price target on Salesforce and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Price Performance

Salesforce stock traded down $4.09 during trading hours on Thursday, hitting $260.72. 3,477,764 shares of the company traded hands, compared to its average volume of 7,071,274. The firm's 50-day simple moving average is $266.97 and its two-hundred day simple moving average is $283.11. The firm has a market cap of $249.25 billion, a P/E ratio of 40.79, a P/E/G ratio of 2.43 and a beta of 1.36. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

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

Salesforce Cuts Dividend

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

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $269.11, for a total value of $605,497.50. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,205,522,871.81. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 37,979 shares of company stock valued at $10,303,399. 3.20% of the stock is owned by insiders.

Salesforce 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.