Octavia Wealth Advisors LLC Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

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

A number of other large investors also recently modified their holdings of the company. Walkner Condon Financial Advisors LLC increased its position in shares of Salesforce by 2.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares during the last quarter. Pure Financial Advisors LLC purchased a new position in shares of Salesforce during the 4th quarter valued at approximately $214,000. Riversedge Advisors LLC grew its position in shares of Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after buying an additional 420 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Salesforce in the third quarter worth $2,499,000. Finally, Lone Pine Capital LLC raised its holdings in Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after acquiring an additional 804,634 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. Citigroup raised their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Mizuho restated a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Finally, JMP Securities restated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Monday. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $307.87.

Salesforce Stock Up 2.1 %

NYSE CRM traded up $5.78 during trading on Tuesday, reaching $278.68. The company’s stock had a trading volume of 4,213,285 shares, compared to its average volume of 5,679,397. The stock has a market capitalization of $270.32 billion, a PE ratio of 65.44, a PEG ratio of 2.26 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The business has a 50-day moving average price of $298.52 and a 200-day moving average price of $260.26. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.57%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s 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 transaction, the chief executive officer now owns 12,928,721 shares of the company’s stock, valued at approximately $3,823,539,948.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,928,721 shares in the company, valued at $3,823,539,948.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the completion of the transaction, the insider now directly owns 105,837 shares in the company, valued at approximately $31,936,314.75. The disclosure for this sale can be found here. Insiders have sold a total of 897,375 shares of company stock valued at $260,206,096 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

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.