Avidian Wealth Enterprises LLC Buys 330 Shares of Salesforce, Inc. (NYSE:CRM)

Avidian Wealth Enterprises LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,532 shares of the CRM provider’s stock after purchasing an additional 330 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Salesforce were worth $846,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. RBA Wealth Management LLC grew its holdings in Salesforce by 3.7% during the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after acquiring an additional 574 shares in the last quarter. CX Institutional grew its holdings in Salesforce by 2.0% during the 3rd quarter. CX Institutional now owns 5,637 shares of the CRM provider’s stock worth $1,543,000 after acquiring an additional 110 shares in the last quarter. Creative Planning grew its holdings in Salesforce by 8.0% during the 3rd quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after acquiring an additional 17,350 shares in the last quarter. Regatta Capital Group LLC grew its holdings in Salesforce by 3.3% during the 3rd quarter. Regatta Capital Group LLC now owns 6,453 shares of the CRM provider’s stock worth $1,766,000 after acquiring an additional 204 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its holdings in Salesforce by 3.7% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 51,281 shares of the CRM provider’s stock worth $14,765,000 after acquiring an additional 1,846 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,705,195. The trade was a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $326.26 on Thursday. The stock has a market capitalization of $312.23 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s 50 day simple moving average is $338.74 and its 200-day simple moving average is $301.96. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business posted $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CRM shares. Wells Fargo & Company increased their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. BMO Capital Markets raised their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given 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 MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.