OneAscent Wealth Management LLC Sells 309 Shares of Salesforce, Inc. (NYSE:CRM)

OneAscent Wealth Management LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 21.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,133 shares of the CRM provider’s stock after selling 309 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Salesforce were worth $311,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC increased its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC lifted its position in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter valued at about $33,000. Finally, Godsey & Gibb Inc. grew its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Millham sold 4,056 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The disclosure for this sale can be found here. Insiders have sold 140,173 shares of company stock valued at $40,146,206 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRM. JPMorgan Chase & Co. increased 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Thursday, September 19th. TD Cowen lifted their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $325.36.

Salesforce Stock Performance

Shares of CRM opened at $322.25 on Tuesday. The stock has a 50-day moving average price of $288.14 and a 200-day moving average price of $266.96. The company has a market cap of $308.07 billion, a PE ratio of 56.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s payout ratio is 27.83%.

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.