CRM

Salesforce, Inc. (NYSE:CRM) Shares Bought by Visionary Wealth Advisors

June 12, 2024

27 4 minutes read

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Visionary Wealth Advisors raised its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,280 shares of the CRM provider’s stock after purchasing an additional 102 shares during the quarter. Visionary Wealth Advisors’ holdings in Salesforce were worth $863,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the fourth quarter worth about $31,000. Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% during 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. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth about $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRM. Oppenheimer dropped their price target on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Wedbush decreased their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 29th. Robert W. Baird decreased their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Evercore ISI decreased their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, Canaccord Genuity Group decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

View Our Latest Analysis on CRM

Salesforce Price Performance

Salesforce stock opened at $241.09 on Wednesday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a fifty day moving average of $272.87 and a 200-day moving average of $277.15. The firm has a market capitalization of $233.62 billion, a P/E ratio of 43.36, a PEG ratio of 2.12 and a beta of 1.26. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total value of $1,258,320.00. Following the transaction, the insider now directly owns 104,904 shares in the company, valued at approximately $31,429,238.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $309.64, for a total transaction of $4,644,600.00. Following the transaction, the chief executive officer now owns 13,101,166 shares of the company’s stock, valued at approximately $4,056,645,040.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the transaction, the insider now directly owns 104,904 shares in the company, valued at approximately $31,429,238.40. The disclosure for this sale can be found here. Insiders have sold 640,870 shares of company stock worth $180,640,848 in the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Profile

(Free Report)

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.