Invera Wealth Advisors LLC Sells 541 Shares of Salesforce, Inc. (NYSE:CRM)

Invera Wealth Advisors LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,634 shares of the CRM provider’s stock after selling 541 shares during the quarter. Salesforce comprises about 1.9% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Invera Wealth Advisors LLC’s holdings in Salesforce were worth $1,885,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. In the last three months, insiders sold 1,117,641 shares of company stock valued at $386,408,308. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Barclays lifted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird boosted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Bank of America upped their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $376.84.

Salesforce Stock Performance

Salesforce stock opened at $324.19 on Thursday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $310.25 billion, a price-to-earnings ratio of 53.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s fifty day moving average price is $335.02 and its 200 day moving average price is $304.66.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.