GFG Capital LLC Has $635,000 Stake in Salesforce, Inc. (NYSE:CRM)

GFG Capital LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,470 shares of the CRM provider’s stock after selling 63 shares during the quarter. GFG Capital LLC’s holdings in Salesforce were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Focus Financial Network Inc. boosted its position in shares of Salesforce by 6.7% during the 2nd quarter. Focus Financial Network Inc. now owns 4,863 shares of the CRM provider’s stock valued at $1,222,000 after acquiring an additional 306 shares in the last quarter. Liberty One Investment Management LLC boosted its holdings in shares of Salesforce by 769.7% in the second quarter. Liberty One Investment Management LLC now owns 3,792 shares of the CRM provider’s stock valued at $975,000 after buying an additional 3,356 shares during the period. Sanibel Captiva Trust Company Inc. boosted its stake in Salesforce by 4.4% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 126,005 shares of the CRM provider’s stock worth $32,396,000 after purchasing an additional 5,280 shares during the period. BigSur Wealth Management LLC boosted its position in Salesforce by 7.0% during the 2nd quarter. BigSur Wealth Management LLC now owns 9,930 shares of the CRM provider’s stock worth $2,553,000 after acquiring an additional 650 shares during the last quarter. Finally, Perfromance Wealth Partners LLC boosted its stake in shares of Salesforce by 108.0% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 4,824 shares of the CRM provider’s stock worth $1,240,000 after buying an additional 2,505 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM traded down $3.54 on Tuesday, reaching $261.84. The company had a trading volume of 5,305,682 shares, compared to its average volume of 6,595,926. The company has a fifty day moving average of $249.94 and a 200-day moving average of $272.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $253.72 billion, a P/E ratio of 47.18, a PEG ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

CRM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped 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. Bank of America raised their target price on shares of Salesforce from $288.00 to $316.00 and gave the company a “buy” rating in a report on Friday. Truist Financial reiterated a “buy” rating and set a $300.00 price objective (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. DA Davidson lowered their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Finally, Barclays lowered their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $291.50.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $269.26, for a total value of $1,130,892.00. Following the completion of the transaction, the insider now owns 115,762 shares of the company’s stock, valued at approximately $31,170,076.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $269.26, for a total value of $1,130,892.00. Following the completion of the transaction, the insider now directly owns 115,762 shares in the company, valued at $31,170,076.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,936 shares of company stock valued at $42,433,769. Insiders own 3.20% of the company’s stock.

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.