Ausdal Financial Partners Inc. Sells 279 Shares of Salesforce, Inc. (NYSE:CRM)

Ausdal Financial Partners Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM) by 12.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,954 shares of the CRM provider’s stock after selling 279 shares during the period. Ausdal Financial Partners Inc.’s holdings in Salesforce were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fox Hill Wealth Management grew its holdings in Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after purchasing an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the period. Glassman Wealth Services increased its holdings in Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 shares during the last quarter. Blue Barn Wealth LLC raised its stake in Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after acquiring an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC lifted its holdings in Salesforce by 0.8% during the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after purchasing an additional 39 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

CRM stock opened at $245.76 on Tuesday. The company has a market cap of $238.14 billion, a P/E ratio of 44.20, a PEG ratio of 2.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day moving average of $254.31 and a 200 day moving average of $269.24. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling

In related news, Director Oscar Munoz purchased 2,051 shares of Salesforce stock in a transaction dated Friday, June 21st. The stock was purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the completion of the purchase, the director now directly owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Salesforce news, insider Parker Harris sold 3,528 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $29,464,622.79. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Oscar Munoz acquired 2,051 shares of the stock in a transaction dated Friday, June 21st. The stock was acquired at an average price of $243.69 per share, for a total transaction of $499,808.19. Following the purchase, the director now directly owns 7,026 shares in the company, valued at $1,712,165.94. The disclosure for this purchase can be found here. Insiders have sold a total of 59,892 shares of company stock worth $15,269,897 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several research reports. Piper Sandler boosted their price target on shares of Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer boosted their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Citigroup increased their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $304.41.

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.