Simplicity Wealth LLC Trims Holdings in Salesforce, Inc. (NYSE:CRM)

Simplicity Wealth LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 89.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,069 shares of the CRM provider’s stock after selling 25,519 shares during the quarter. Simplicity Wealth LLC’s holdings in Salesforce were worth $840,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Salesforce by 5.2% in the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after purchasing an additional 736,986 shares in the last quarter. Capital Research Global Investors boosted its stake in Salesforce by 26.9% in the 1st 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 in the last quarter. Capital International Investors boosted its stake in Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRM shares. TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Raymond James upped their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial restated a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Finally, Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Down 0.7 %

NYSE CRM opened at $288.10 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $275.42 billion, a P/E ratio of 50.10, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock has a 50 day moving average price of $261.93 and a 200-day moving average price of $263.88.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm 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 quarterly 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 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Brian Millham sold 8,427 shares of Salesforce stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,612 shares of company stock worth $21,283,087. 3.20% of the stock is currently owned by insiders.

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.