Bordeaux Wealth Advisors LLC Acquires 1,130 Shares of Salesforce, Inc. (NYSE:CRM)

Bordeaux Wealth Advisors LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 33.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,514 shares of the CRM provider’s stock after buying an additional 1,130 shares during the period. Bordeaux Wealth Advisors LLC’s holdings in Salesforce were worth $1,188,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Graypoint LLC lifted its holdings in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares in the last quarter. Chase Investment Counsel Corp lifted its position in shares of Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after buying an additional 36 shares during the last quarter. Opes Wealth Management LLC increased its position in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares in the last quarter. Prentice Wealth Management LLC boosted its holdings in Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares in the last quarter. Finally, MV Capital Management Inc. increased its position in shares of Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after acquiring an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the transaction, the chief executive officer now directly owns 12,707,327 shares in the company, valued at $3,425,005,846.31. The sale was disclosed in a filing with the SEC, which is available through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the sale, the chief executive officer now owns 12,707,327 shares in the company, valued at $3,425,005,846.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The disclosure for this sale can be found here. Insiders have sold 629,993 shares of company stock valued at $184,255,474 in the last 90 days. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRM shares. Citigroup upped their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Truist Financial reiterated a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Robert W. Baird raised their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Trading Up 0.6 %

CRM stock traded up $1.53 during midday trading on Friday, reaching $273.66. The company’s stock had a trading volume of 4,033,233 shares, compared to its average volume of 5,571,602. The business’s 50-day simple moving average is $294.61 and its 200-day simple moving average is $265.72. The stock has a market cap of $265.45 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio is 9.52%.

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.