Conscious Wealth Investments LLC Grows Stock Position in Salesforce, Inc. (NYSE:CRM)

Conscious Wealth Investments LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,992 shares of the CRM provider’s stock after acquiring an additional 81 shares during the period. Conscious Wealth Investments LLC’s holdings in Salesforce were worth $2,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its position in Salesforce by 6.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after buying an additional 366 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in shares of Salesforce by 44.7% in the 4th quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after acquiring an additional 496 shares during the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after acquiring an additional 1,253 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Salesforce by 32.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after purchasing an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC increased its holdings in Salesforce by 1.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock valued at $2,115,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRM. Piper Sandler raised their price target on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Mizuho dropped their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $315.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Truist Financial reissued a “buy” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $305.55.

Insider Activity

In related news, Director Oscar Munoz purchased 2,051 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were purchased at an average price of $243.69 per share, for a total transaction of $499,808.19. Following the transaction, the director now directly owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Oscar Munoz acquired 2,051 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the transaction, the director now directly owns 7,026 shares in the company, valued at approximately $1,712,165.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,376 shares of company stock valued at $15,878,005. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.9 %

NYSE:CRM opened at $256.81 on Tuesday. The company has a market capitalization of $248.85 billion, a PE ratio of 46.19, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock’s 50 day moving average price is $253.55 and its 200 day moving average price is $267.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during 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 was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio is presently 28.78%.

Salesforce 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.