Salesforce, Inc. (NYSE:CRM) Shares Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,711 shares of the CRM provider’s stock after acquiring an additional 80 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Salesforce were worth $728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Tallon Kerry Patrick purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $236,000. Brighton Jones LLC boosted its stake in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $104,173,000. Revolve Wealth Partners LLC boosted its stake in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after buying an additional 205 shares during the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $223,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CRM. UBS Group reduced their target price on Salesforce from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, May 27th. Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. Piper Sandler upped their price target on Salesforce from $315.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, May 28th. Morgan Stanley reissued an “overweight” rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Mizuho dropped their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $346.34.

Salesforce Price Performance

NYSE:CRM opened at $274.48 on Monday. The business’s 50-day moving average price is $266.57 and its 200 day moving average price is $302.19. The firm has a market cap of $262.40 billion, a P/E ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. During the same quarter last year, the business posted $2.44 EPS. Salesforce’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider now owns 41,422 shares of the company’s stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock valued at $11,024,802 in the last 90 days. 3.20% of the stock is currently owned by corporate 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.