OneAscent Wealth Management LLC Sells 193 Shares of Salesforce, Inc. (NYSE:CRM)

OneAscent Wealth Management LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,337 shares of the CRM provider’s stock after selling 193 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Salesforce were worth $403,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Graypoint LLC grew its position in shares of Salesforce by 0.3% in the fourth 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 grew its position in shares of Salesforce by 0.3% in the fourth 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 grew its position in shares of Salesforce by 11.4% in the fourth 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 grew its position in shares of Salesforce by 2.9% in the fourth 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, Prentice Wealth Management LLC grew its position in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRM shares. Morgan Stanley cut their price target on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. DA Davidson cut their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Jefferies Financial Group cut their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company cut their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Finally, Barclays cut their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Stock Performance

Salesforce stock traded up $4.25 during mid-day trading on Friday, reaching $257.10. The company’s stock had a trading volume of 12,619,303 shares, compared to its average volume of 11,223,949. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market capitalization of $249.13 billion, a P/E ratio of 46.24, a PEG ratio of 2.22 and a beta of 1.25. 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 firm’s fifty day moving average price is $259.79 and its two-hundred day moving average price is $276.20.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio is currently 7.19%.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit purchased 428,000 shares of the stock in a transaction on Monday, June 3rd. The stock was acquired at an average cost of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director G Mason Morfit purchased 428,000 shares of Salesforce stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 547,387 shares of company stock valued at $151,174,635. Insiders own 3.20% of the company’s stock.

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.