Bordeaux Wealth Advisors LLC Purchases 1,130 Shares of Salesforce, Inc. (NYSE:CRM)

Bordeaux Wealth Advisors LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 33.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,514 shares of the CRM provider’s stock after buying an additional 1,130 shares during the quarter. Bordeaux Wealth Advisors LLC’s holdings in Salesforce were worth $1,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Salesforce by 23,653.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after acquiring an additional 1,400,300 shares in the last quarter. Lone Pine Capital LLC raised its position in shares of Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after purchasing an additional 804,634 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after purchasing an additional 752,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Salesforce by 330.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after purchasing an additional 718,245 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM traded up $1.53 on Friday, reaching $273.66. 4,033,233 shares of the stock were exchanged, compared to its average volume of 5,571,602. 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, Inc. has a one year low of $190.76 and a one year high of $318.71. The firm has a market capitalization of $265.45 billion, a PE ratio of 65.16, a PEG ratio of 2.07 and a beta of 1.30. The company’s 50-day simple moving average is $294.61 and its two-hundred day simple moving average is $265.72.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The company’s revenue was up 10.8% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Analysts Set New Price Targets

CRM has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. KeyCorp assumed coverage on Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Stifel Nicolaus restated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Mizuho reaffirmed a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Finally, Wells Fargo & Company lifted their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.82, for a total transaction of $4,287,300.00. Following the completion of the sale, the chief executive officer now directly owns 13,581,166 shares of the company’s stock, valued at approximately $3,881,768,866.12. The sale 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 business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $285.82, for a total value of $4,287,300.00. Following the sale, the chief executive officer now owns 13,581,166 shares in the company, valued at approximately $3,881,768,866.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total value of $2,852,000.00. Following the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 629,993 shares of company stock valued at $184,255,474. 3.70% of the stock is owned by company insiders.

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.