Salesforce Inc. (NYSE:CRM) Shares Bought by WealthShield Partners LLC

Key Points

• WealthShield Partners LLC increased its stake in Salesforce by 22%, acquiring 1,882 additional shares, bringing its total to 10,444 shares valued at approximately $2.8 million.
• Salesforce reported earnings of $2.58 per share for the latest quarter, exceeding analysts' expectations, along with a revenue of $9.83 billion.
• Analysts have mixed ratings for Salesforce, with a consensus rating of "Moderate Buy" and an average target price of $348.16, reflecting a wide range of investor sentiment.

WealthShield Partners LLC increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,444 shares of the CRM provider's stock after purchasing an additional 1,882 shares during the quarter. WealthShield Partners LLC's holdings in Salesforce were worth $2,803,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Notis McConarty Edward lifted its stake in Salesforce by 71.6% in the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock valued at $1,032,000 after buying an additional 1,604 shares during the last quarter. Alecta Tjanstepension Omsesidigt lifted its stake in Salesforce by 121.9% in the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock valued at $95,222,000 after buying an additional 195,000 shares during the last quarter. Delaney Dennis R lifted its stake in Salesforce by 66.1% in the first quarter. Delaney Dennis R now owns 5,694 shares of the CRM provider's stock valued at $1,528,000 after buying an additional 2,266 shares during the last quarter. Journey Strategic Wealth LLC lifted its stake in Salesforce by 34.5% in the first quarter. Journey Strategic Wealth LLC now owns 4,948 shares of the CRM provider's stock valued at $1,328,000 after buying an additional 1,270 shares during the last quarter. Finally, Mathes Company Inc. lifted its stake in Salesforce by 396.9% in the first quarter. Mathes Company Inc. now owns 12,298 shares of the CRM provider's stock valued at $3,300,000 after buying an additional 9,823 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $248.40, for a total transaction of $558,900.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,958,834,236.40. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 46,479 shares of company stock worth $12,457,591. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. Northland Securities reduced their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Piper Sandler upped their price target on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. JMP Securities restated a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a research note on Friday, July 11th. Barclays dropped their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Finally, Sanford C. Bernstein boosted their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Price Performance

NYSE CRM traded down $8.54 during trading hours on Thursday, reaching $240.63. The company's stock had a trading volume of 9,997,676 shares, compared to its average volume of 5,834,085. The stock has a market cap of $230.04 billion, a PE ratio of 37.66, a PEG ratio of 2.26 and a beta of 1.37. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company's 50-day moving average is $263.97 and its two-hundred day moving average is $280.10. 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 (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 EPS. Analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

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.