Earned Wealth Advisors LLC Has $1.28 Million Holdings in Salesforce Inc. (NYSE:CRM)

Key Points

• Earned Wealth Advisors LLC increased its holdings in Salesforce Inc. by 140.1% in the first quarter, owning 4,774 shares valued at approximately $1.28 million.
• Salesforce reported earnings of $2.58 per share, surpassing analysts' expectations, with revenue of $9.83 billion, reflecting a 7.6% year-over-year growth.
• Analysts have a consensus rating of "Moderate Buy" for Salesforce stock, with a target price of $348.16, following various ratings changes from different financial institutions.

Earned Wealth Advisors LLC lifted its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 140.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,774 shares of the CRM provider's stock after purchasing an additional 2,786 shares during the period. Earned Wealth Advisors LLC's holdings in Salesforce were worth $1,281,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter worth $27,000. Capital A Wealth Management LLC raised its stake in shares of Salesforce by 450.0% during the 1st 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. CBIZ Investment Advisory Services LLC increased its holdings in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the last quarter. Finally, Abound Financial LLC bought a new stake in shares of Salesforce in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $252.42, for a total value of $567,945.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,006,718,751.82. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 44,229 shares of company stock worth $11,898,691 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a report on Tuesday, June 10th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Cantor Fitzgerald lowered shares of Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. Finally, Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Three investment 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Salesforce Price Performance

Shares of NYSE CRM traded up $1.38 during trading on Wednesday, reaching $248.87. The company had a trading volume of 5,825,520 shares, compared to its average volume of 7,073,268. 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 twelve month low of $230.00 and a twelve month high of $369.00. The stock has a 50-day moving average price of $265.03 and a two-hundred day moving average price of $280.90. The stock has a market capitalization of $237.92 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last released its 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. 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 business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 earnings per share. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

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.