Paces Ferry Wealth Advisors LLC Sells 47 Shares of Salesforce, Inc. (NYSE:CRM)

Paces Ferry Wealth Advisors LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,650 shares of the CRM provider’s stock after selling 47 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Salesforce were worth $1,224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the fourth quarter worth $31,000. BKM Wealth Management LLC bought a new stake in Salesforce during the fourth quarter valued at $34,000. Pacifica Partners Inc. increased its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.5 %

Salesforce stock traded down $6.80 during mid-day trading on Tuesday, reaching $268.94. 5,211,266 shares of the company’s stock were exchanged, compared to its average volume of 5,632,453. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The company has a market cap of $260.87 billion, a P/E ratio of 64.03, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $295.34 and a 200-day moving average of $265.65.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

Analyst Ratings Changes

Several equities analysts recently commented on CRM shares. Oppenheimer increased their target price on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Piper Sandler reiterated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Truist Financial restated a “buy” rating and set a $360.00 target price (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, JMP Securities restated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $282.95, for a total value of $4,244,250.00. Following the completion of the transaction, the chief executive officer now directly owns 13,626,166 shares of the company’s stock, valued at approximately $3,855,523,669.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the completion of the sale, the chief executive officer now directly owns 13,626,166 shares of the company’s stock, valued at $3,855,523,669.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 2,890 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $893,934.80. Following the transaction, the insider now owns 60,416 shares in the company, valued at approximately $18,687,877.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 625,793 shares of company stock valued at $183,318,868. Insiders own 3.70% 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.