Aveo Capital Partners LLC Has $422,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)
Aveo Capital Partners LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 44.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,605 shares of the CRM provider’s stock after buying an additional 496 shares during the quarter. Aveo Capital Partners LLC’s holdings in Salesforce were worth $422,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Graypoint LLC lifted its holdings in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC raised its stake in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the period. Prentice Wealth Management LLC boosted its holdings in shares of Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the last quarter. Finally, MV Capital Management Inc. grew its position in Salesforce by 3.9% during the fourth quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after buying an additional 39 shares during the period. Institutional investors own 80.43% of the company’s stock.
Salesforce Stock Performance
Salesforce stock opened at $234.44 on Monday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.11. The stock has a market cap of $227.17 billion, a P/E ratio of 42.17, a price-to-earnings-growth ratio of 2.07 and a beta of 1.30. The firm’s fifty day moving average price is $281.80 and its 200-day moving average price is $276.36.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the business posted $1.15 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.
Insider Buying and Selling at Salesforce
In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $304.25, for a total value of $4,563,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,266,166 shares in the company, valued at approximately $4,036,231,005.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Srinivas Tallapragada sold 2,890 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $893,934.80. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $18,687,877.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $304.25, for a total value of $4,563,750.00. Following the transaction, the chief executive officer now owns 13,266,166 shares in the company, valued at $4,036,231,005.50. The disclosure for this sale can be found here. Insiders have sold 638,070 shares of company stock worth $182,912,726 over the last ninety days. Insiders own 3.20% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CRM shares. JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Monday, April 15th. Citigroup reduced their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company lowered their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday. Evercore ISI cut their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Macquarie decreased their price objective on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned 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, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $292.79.
Check Out Our Latest Stock Report on CRM
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.
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