Salesforce, Inc. (NYSE:CRM) Stake Cut by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,139 shares of the CRM provider’s stock after selling 57 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Salesforce were worth $1,386,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in Salesforce by 560.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 6,600 shares of the CRM provider’s stock worth $2,207,000 after buying an additional 5,600 shares during the last quarter. Howard Capital Management Group LLC increased its position in shares of Salesforce by 0.3% during the fourth quarter. Howard Capital Management Group LLC now owns 115,060 shares of the CRM provider’s stock worth $38,468,000 after acquiring an additional 315 shares in the last quarter. Roberts Wealth Advisors LLC grew its position in Salesforce by 0.7% in the fourth quarter. Roberts Wealth Advisors LLC now owns 11,079 shares of the CRM provider’s stock valued at $3,558,000 after purchasing an additional 75 shares in the last quarter. Atomi Financial Group Inc. grew its position in shares of Salesforce by 24.0% in the 4th quarter. Atomi Financial Group Inc. now owns 14,884 shares of the CRM provider’s stock valued at $4,976,000 after acquiring an additional 2,885 shares during the period. Finally, Transform Wealth LLC lifted its stake in shares of Salesforce by 7.5% during the 4th quarter. Transform Wealth LLC now owns 53,948 shares of the CRM provider’s stock worth $18,058,000 after buying an additional 3,783 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,172,167 shares of company stock valued at $402,223,235. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.7 %

Shares of CRM stock opened at $326.85 on Wednesday. The stock’s fifty day moving average is $336.97 and its two-hundred day moving average is $292.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $312.79 billion, a P/E ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed 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 payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRM. BMO Capital Markets lifted their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC increased their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Piper Sandler reissued an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.