Salesforce Inc. (NYSE:CRM) Shares Sold by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management LLC reduced its stake in Salesforce Inc. by 12.5%, now holding 157,613 shares worth approximately $42.3 million.
• Salesforce's latest quarterly report showed an earnings per share (EPS) of $2.58, exceeding analyst expectations, with a revenue of $9.83 billion.
• The company's stock has a market cap of $229.53 billion and remains moderately rated with a consensus target price of $348.16.

Motley Fool Wealth Management LLC cut its position in Salesforce Inc. (NYSE:CRM - Free Report) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,613 shares of the CRM provider's stock after selling 22,476 shares during the period. Salesforce accounts for 2.5% of Motley Fool Wealth Management LLC's holdings, making the stock its 9th largest position. Motley Fool Wealth Management LLC's holdings in Salesforce were worth $42,297,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after buying an additional 1,383,942 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Salesforce by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock worth $2,419,037,000 after acquiring an additional 437,435 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 valued at $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Salesforce by 7.5% in the fourth 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 valued at $2,894,673,000 after purchasing an additional 602,445 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM stock opened at $240.09 on Monday. The stock's 50-day moving average is $263.47 and its two-hundred day moving average is $278.75. 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 1 year low of $230.00 and a 1 year high of $369.00. The firm has a market cap of $229.53 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 2.18 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. Analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current 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. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio is 25.98%.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $248.40, for a total transaction of $558,900.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $2,958,834,236.40. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 46,479 shares of company stock valued at $12,457,591. 3.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Barclays cut their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Oppenheimer restated an "outperform" rating and set a $370.00 price target on shares of Salesforce in a report on Tuesday, June 10th. Piper Sandler upped their price objective on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, Canaccord Genuity Group lowered their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.

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