Werba Rubin Papier Wealth Management Sells 239 Shares of Salesforce, Inc. (NYSE:CRM)

Werba Rubin Papier Wealth Management lowered its position in Salesforce, Inc. (NYSE:CRM) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,481 shares of the CRM provider’s stock after selling 239 shares during the period. Werba Rubin Papier Wealth Management’s holdings in Salesforce were worth $2,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Vanguard Group Inc. boosted its stake in shares of Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Capital Research Global Investors boosted its position in Salesforce by 26.9% during 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 period. Capital International Investors grew its holdings in Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Legal & General Group Plc raised its position in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 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 transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares of the company’s stock, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,429,961 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.6 %

Shares of CRM opened at $292.94 on Friday. The company has a market capitalization of $283.86 billion, a P/E ratio of 52.69, a PEG 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 business’s 50 day simple moving average is $266.65 and its 200-day simple moving average is $263.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRM shares. TD Cowen lifted their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. JPMorgan Chase & Co. increased their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine investment 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. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $311.66.

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.