BSW Wealth Partners Cuts Position in Salesforce Inc. (NYSE:CRM)

BSW Wealth Partners cut its stake in Salesforce Inc. (NYSE:CRM) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,908 shares of the CRM provider’s stock after selling 93 shares during the period. BSW Wealth Partners’ holdings in Salesforce were worth $1,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter worth about $27,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Salesforce in the fourth quarter worth about $35,000. Wood Tarver Financial Group LLC purchased a new stake in Salesforce in the fourth quarter worth about $35,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Salesforce in the fourth quarter worth about $45,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Salesforce from $315.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. BMO Capital Markets cut their price target on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, May 27th. The Goldman Sachs Group increased their price target on shares of Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Stephens cut their price target on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Finally, UBS Group set a $404.00 price target on shares of Salesforce and gave the company an “overweight” rating in a report on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $349.08.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 41,422 shares of the company’s stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,284 shares of company stock worth $6,996,762 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.7%

Shares of NYSE CRM opened at $272.72 on Friday. The business’s 50 day moving average is $270.38 and its two-hundred day moving average is $294.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The stock has a market capitalization of $260.72 billion, a P/E ratio of 42.68, a PEG ratio of 2.45 and a beta of 1.38.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business 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 $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio 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.