Winthrop Advisory Group LLC Has $589,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Winthrop Advisory Group LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,953 shares of the CRM provider’s stock after acquiring an additional 50 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Salesforce were worth $589,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CRM. Bear Mountain Capital Inc. acquired a new position in Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the fourth quarter worth about $31,000. Pacifica Partners Inc. grew its holdings in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, CFO Amy E. Weaver sold 5,864 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the transaction, the chief financial officer now owns 45,231 shares in the company, valued at approximately $12,428,121.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. Insiders sold a total of 547,387 shares of company stock valued at $151,174,635 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 1.7 %

Shares of NYSE:CRM traded up $4.25 during trading on Friday, reaching $257.10. 12,619,303 shares of the stock were exchanged, compared to its average volume of 11,223,949. The firm has a market cap of $249.13 billion, a price-to-earnings ratio of 46.24, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The stock has a fifty day moving average of $259.79 and a two-hundred day moving average of $276.34. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS 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 return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

CRM has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Thursday, May 30th. TD Cowen reduced their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. DA Davidson reduced their target price on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Oppenheimer reduced their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $300.00 target price (down from $360.00) on shares of Salesforce in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.