Icon Wealth Advisors LLC Has $758,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Icon Wealth Advisors LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 74.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,769 shares of the CRM provider’s stock after selling 8,008 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Salesforce were worth $758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Veritas Asset Management LLP bought a new position in shares of Salesforce during the 3rd quarter worth about $733,805,000. Massachusetts Financial Services Co. MA lifted its stake in Salesforce by 48.3% during 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 purchasing an additional 1,922,674 shares during the period. AMF Tjanstepension AB boosted its holdings in Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after purchasing an additional 1,139,472 shares in the last quarter. KBC Group NV grew its stake in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after buying an additional 998,628 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock worth $42,475,538 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.0 %

Shares of NYSE CRM opened at $329.99 on Friday. The firm has a 50 day moving average price of $302.12 and a 200 day moving average price of $270.65. 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 stock has a market cap of $315.47 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. Truist Financial upped their price target on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Oppenheimer reiterated an “outperform” rating and set a $385.00 target price (up previously from $330.00) on shares of Salesforce in a research report on Thursday, November 21st. Raymond James lifted their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $341.89.

Salesforce Company 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.