Bison Wealth LLC Has $508,000 Stake in Salesforce, Inc. (NYSE:CRM)

Bison Wealth LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,931 shares of the CRM provider’s stock after purchasing an additional 71 shares during the quarter. Bison Wealth LLC’s holdings in Salesforce were worth $508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Walkner Condon Financial Advisors LLC raised its stake in shares of Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after purchasing an additional 74 shares during the period. Pure Financial Advisors LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $214,000. Riversedge Advisors LLC raised its stake in shares of Salesforce by 21.7% in the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after purchasing an additional 420 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Salesforce in the 3rd quarter valued at about $2,499,000. Finally, Lone Pine Capital LLC raised its stake 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 valued at $506,875,000 after purchasing an additional 804,634 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $274.01, for a total transaction of $4,110,150.00. Following the completion of the transaction, the chief executive officer now directly owns 13,761,166 shares in the company, valued at $3,770,697,095.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Insiders sold a total of 897,375 shares of company stock worth $260,206,096 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. BMO Capital Markets raised their price objective on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Piper Sandler restated a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday. Bank of America raised their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Truist Financial restated a “buy” rating and issued a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Robert W. Baird raised their price objective on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Trading Up 1.7 %

Shares of NYSE:CRM opened at $277.41 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The business has a 50 day moving average of $298.35 and a 200-day moving average of $260.79. The stock has a market cap of $269.09 billion, a PE ratio of 66.05, a P/E/G ratio of 2.26 and a beta of 1.28.

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

Salesforce Dividend Announcement

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

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.