Octavia Wealth Advisors LLC Reduces Position in Salesforce, Inc. (NYSE:CRM)

Octavia Wealth Advisors LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,871 shares of the CRM provider’s stock after selling 99 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Salesforce were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the fourth quarter worth about $26,000. BKM Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $34,000. Pacifica Partners Inc. lifted its stake in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. AlphaMark Advisors LLC boosted its holdings in Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc purchased a new position in Salesforce during the 4th quarter valued at $37,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, April 12th. The shares were sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,928,721 shares of the company’s stock, valued at approximately $3,823,539,948.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the sale, the chief executive officer now owns 12,928,721 shares of the company’s stock, valued at approximately $3,823,539,948.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Insiders sold 897,375 shares of company stock worth $260,206,096 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Salesforce Trading Up 2.1 %

CRM stock traded up $5.78 during mid-day trading on Tuesday, hitting $278.68. 4,213,285 shares of the company were exchanged, compared to its average volume of 5,679,397. The business has a fifty day simple moving average of $298.52 and a 200-day simple moving average of $260.26. The firm has a market capitalization of $270.32 billion, a P/E ratio of 65.44, a PEG ratio of 2.26 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month 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 announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors 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 0.57%. Salesforce’s dividend payout ratio is currently 9.52%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Bank of America boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Stifel Nicolaus reissued a “buy” rating and set a $350.00 price target on shares of Salesforce in a research report on Wednesday, April 3rd. Wedbush upped their price target on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Monday. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

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.