Atria Wealth Solutions Inc. Sells 1,423 Shares of Salesforce, Inc. (NYSE:CRM)

Atria Wealth Solutions Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,731 shares of the CRM provider’s stock after selling 1,423 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Salesforce were worth $7,522,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CRM. NewSquare Capital LLC raised its position in Salesforce by 132.8% in the 1st quarter. NewSquare Capital LLC now owns 149 shares of the CRM provider’s stock valued at $30,000 after buying an additional 85 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after purchasing an additional 63 shares during the last quarter. Live Oak Investment Partners bought a new position in shares of Salesforce during the fourth quarter valued at about $36,000. Delta Asset Management LLC TN purchased a new position in Salesforce during the fourth quarter worth about $39,000. Finally, HBC Financial Services PLLC grew its position in Salesforce by 350.0% in the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $224.81, for a total transaction of $3,372,150.00. Following the transaction, the chief executive officer now owns 15,846,166 shares in the company, valued at approximately $3,562,376,578.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $224.81, for a total transaction of $3,372,150.00. Following the transaction, the chief executive officer now directly owns 15,846,166 shares of the company’s stock, valued at approximately $3,562,376,578.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 78,870 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $210.94, for a total transaction of $16,636,837.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 707,472 shares of company stock worth $154,064,224. Company insiders own 3.70% of the company’s stock.

Salesforce Price Performance

CRM opened at $218.83 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $212.92 billion, a P/E ratio of 137.63, a PEG ratio of 1.68 and a beta of 1.19. The stock has a 50-day moving average price of $217.87 and a 200-day moving average price of $205.57. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $238.22.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.22. The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. Salesforce’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Equities analysts predict that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Oppenheimer boosted their target price on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Raymond James upped their price objective on Salesforce from $260.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 31st. JMP Securities reiterated a “market outperform” rating and set a $275.00 target price on shares of Salesforce in a research note on Thursday, August 31st. Roth Mkm boosted their price target on shares of Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. Finally, Jefferies Financial Group raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.86.

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.