Prudent Man Advisors LLC Has $1.12 Million Stake in Salesforce, Inc. (NYSE:CRM)

Prudent Man Advisors LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,276 shares of the CRM provider’s stock after selling 79 shares during the quarter. Prudent Man Advisors LLC’s holdings in Salesforce were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CRM. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Salesforce by 92,823.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 238,763,957 shares of the CRM provider’s stock worth $50,441,274,000 after acquiring an additional 238,507,009 shares during the last quarter. Norges Bank bought a new position in Salesforce during the 4th quarter worth approximately $1,420,381,000. Moneta Group Investment Advisors LLC boosted its stake in Salesforce by 125,717.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after acquiring an additional 10,252,257 shares during the last quarter. Starboard Value LP bought a new position in Salesforce during the 4th quarter worth approximately $401,215,000. Finally, Wellington Management Group LLP boosted its stake in Salesforce by 21.3% during the 1st quarter. Wellington Management Group LLP now owns 14,134,170 shares of the CRM provider’s stock worth $2,823,724,000 after acquiring an additional 2,481,759 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $220.94, for a total transaction of $3,314,100.00. Following the completion of the sale, the chief executive officer now owns 14,876,166 shares of the company’s stock, valued at approximately $3,286,740,116.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $220.94, for a total value of $3,314,100.00. Following the transaction, the chief executive officer now directly owns 14,876,166 shares in the company, valued at approximately $3,286,740,116.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 1,250 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $209.85, for a total value of $262,312.50. Following the completion of the transaction, the insider now owns 101,790 shares in the company, valued at $21,360,631.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 671,788 shares of company stock valued at $141,136,481. 3.70% of the stock is currently owned by company insiders.

Salesforce Trading Up 1.2 %

Shares of Salesforce stock traded up $2.73 on Monday, hitting $223.95. The stock had a trading volume of 839,489 shares, compared to its average volume of 6,419,904. The stock has a 50 day moving average of $208.52 and a 200 day moving average of $211.92. Salesforce, Inc. has a twelve month low of $126.34 and a twelve month high of $238.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $217.90 billion, a P/E ratio of 139.13, a PEG ratio of 1.66 and a beta of 1.18.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. The business had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Sell-side analysts expect that Salesforce, Inc. will post 5.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler lowered shares of Salesforce from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $268.00 to $232.00 in a research note on Monday, October 23rd. Barclays lifted their price target on shares of Salesforce from $245.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, August 31st. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 31st. Robert W. Baird boosted their price objective on shares of Salesforce from $210.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, August 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.28.

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.