Marietta Wealth Management LLC Buys 723 Shares of Salesforce, Inc. (NYSE:CRM)

Marietta Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,195 shares of the CRM provider’s stock after buying an additional 723 shares during the period. Marietta Wealth Management LLC’s holdings in Salesforce were worth $5,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Norges Bank bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $2,762,331,000. Capital International Investors increased its position in Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Capital Research Global Investors increased its position in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the last quarter. GQG Partners LLC bought a new stake in Salesforce in the first quarter worth $910,220,000. Finally, Swedbank AB bought a new stake in Salesforce in the first quarter worth $874,748,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock traded up $0.12 during mid-day trading on Friday, hitting $262.91. The company had a trading volume of 3,494,863 shares, compared to its average volume of 6,614,657. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company’s fifty day moving average is $249.47 and its 200-day moving average is $272.92. The company has a market capitalization of $254.76 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.22 and a beta of 1.29.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analysts Set New Price Targets

CRM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. DA Davidson lowered their target price on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Citigroup lowered their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Canaccord Genuity Group lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Stifel Nicolaus lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $291.50.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the completion of the sale, the chief executive officer now owns 12,407,327 shares in the company, valued at $2,688,171,467.82. The disclosure for this sale can be found here. Insiders have sold a total of 187,136 shares of company stock worth $47,935,109 in the last ninety days. Insiders own 3.20% 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.