Waypoint Wealth Partners Inc. Has $495,000 Stock Holdings in Salesforce Inc. (NYSE:CRM)

Waypoint Wealth Partners Inc. cut its holdings in Salesforce Inc. (NYSE:CRM) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,845 shares of the CRM provider’s stock after selling 125 shares during the quarter. Waypoint Wealth Partners Inc.’s holdings in Salesforce were worth $495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $27,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $35,000. Capital A Wealth Management LLC lifted its stake in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its stake in shares of Salesforce by 314.8% in 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. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRM. Wells Fargo & Company boosted their target price on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Stifel Nicolaus dropped their target price on shares of Salesforce from $375.00 to $325.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Mizuho dropped their target price on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $275.00 price objective on shares of Salesforce in a research report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $346.84.

Salesforce Stock Performance

Salesforce stock opened at $237.14 on Thursday. 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 1 year low of $226.48 and a 1 year high of $369.00. The company has a market cap of $226.71 billion, a PE ratio of 37.11, a PEG ratio of 2.10 and a beta of 1.37. The company’s 50-day moving average is $261.72 and its two-hundred day moving average is $277.44.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the company posted $2.44 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Equities analysts anticipate 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 given a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce’s dividend payout ratio is presently 25.98%.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $260.30, for a total value of $585,675.00. Following the sale, the chief executive officer directly owned 11,955,566 shares in the company, valued at $3,112,033,829.80. This trade represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 44,282 shares of company stock worth $11,554,754. Corporate insiders own 3.00% of the company’s stock.

About Salesforce

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.