Oxford Wealth Group LLC Acquires Shares of 2,714 Salesforce, Inc. (NYSE:CRM)

Oxford Wealth Group LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,714 shares of the CRM provider’s stock, valued at approximately $817,000.

Several other institutional investors have also recently bought and sold shares of the business. Graypoint LLC raised its position in Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the last quarter. Chase Investment Counsel Corp raised its position in Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC raised its position in Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the last quarter. Finally, Fox Hill Wealth Management increased its stake in shares of Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI lowered their target price on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Salesforce in a research note on Friday, May 24th. Sanford C. Bernstein lifted their price objective on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Finally, Truist Financial reaffirmed a “buy” rating and set a $300.00 price objective (down from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the transaction, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $276.93, for a total value of $1,163,106.00. Following the transaction, the insider now owns 115,762 shares of the company’s stock, valued at $32,057,970.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the transaction, the chief executive officer now directly owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The disclosure for this sale can be found here. Insiders have sold a total of 305,042 shares of company stock valued at $81,019,465 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 0.3 %

CRM traded down $0.68 on Tuesday, hitting $257.91. 3,941,446 shares of the company were exchanged, compared to its average volume of 6,784,922. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a market cap of $249.91 billion, a PE ratio of 46.39, a PEG ratio of 2.31 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $250.11 and its 200-day moving average is $275.37.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. Equities research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.