Fiduciary Family Office LLC Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

Fiduciary Family Office LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,630 shares of the CRM provider’s stock after selling 384 shares during the period. Fiduciary Family Office LLC’s holdings in Salesforce were worth $1,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TFB Advisors LLC acquired a new stake in shares of Salesforce in the first quarter valued at approximately $389,000. Avidian Wealth Solutions LLC purchased a new position in Salesforce in the first quarter worth $396,000. Catalina Capital Group LLC raised its position in Salesforce by 201.1% in the first quarter. Catalina Capital Group LLC now owns 2,433 shares of the CRM provider’s stock worth $733,000 after acquiring an additional 1,625 shares in the last quarter. Clarity Capital Partners LLC raised its position in Salesforce by 10.5% in the first quarter. Clarity Capital Partners LLC now owns 11,727 shares of the CRM provider’s stock worth $3,532,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Signaturefd LLC raised its position in Salesforce by 4.8% in the first quarter. Signaturefd LLC now owns 18,985 shares of the CRM provider’s stock worth $5,718,000 after acquiring an additional 862 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock traded down $1.82 during trading hours on Tuesday, hitting $296.19. The company had a trading volume of 1,171,763 shares, compared to its average volume of 6,244,327. The firm has a market capitalization of $283.16 billion, a price-to-earnings ratio of 51.46, a PEG ratio of 2.67 and a beta of 1.29. The firm’s fifty day moving average is $273.68 and its 200 day moving average is $263.36. Salesforce, Inc. has a 12 month low of $204.69 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm posted $1.63 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,003 shares of company stock valued at $41,494,084 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $330.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and set a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Company 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.