Werba Rubin Papier Wealth Management Has $2.50 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Werba Rubin Papier Wealth Management increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 66.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,720 shares of the CRM provider’s stock after buying an additional 3,882 shares during the quarter. Salesforce accounts for approximately 0.7% of Werba Rubin Papier Wealth Management’s holdings, making the stock its 28th largest holding. Werba Rubin Papier Wealth Management’s holdings in Salesforce were worth $2,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after buying an additional 1,008,841 shares during the period. Capital World Investors boosted its holdings in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors raised its stake in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Finally, Capital International Investors increased its position in shares of 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 buying an additional 407,834 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent analyst reports. Sanford C. Bernstein upped their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial reissued a “buy” rating and set a $300.00 target price on shares of Salesforce in a research note on Friday, August 30th. Macquarie decreased their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Finally, Citigroup increased their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $304.41.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $241.74, for a total value of $3,626,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $2,940,152,355.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,692 shares of company stock worth $21,006,957. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM traded down $2.15 during midday trading on Friday, hitting $243.97. 6,259,431 shares of the company traded hands, compared to its average volume of 6,604,331. The company has a market capitalization of $236.41 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 2.22 and a beta of 1.29. The business has a 50 day simple moving average of $254.52 and a two-hundred day simple moving average of $269.68. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business posted $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.