CV Advisors LLC Makes New $211,000 Investment in Salesforce, Inc. (NYSE:CRM)

CV Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,000 shares of the CRM provider’s stock, valued at approximately $211,000. Salesforce accounts for 0.2% of CV Advisors LLC’s holdings, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Salesforce by 374.1% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 128 shares of the CRM provider’s stock valued at $27,000 after acquiring an additional 101 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after buying an additional 63 shares in the last quarter. Live Oak Investment Partners acquired a new stake in shares of Salesforce in the fourth quarter valued at $36,000. HBC Financial Services PLLC boosted its stake in Salesforce by 350.0% during the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after buying an additional 175 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in Salesforce by 354.8% during the second quarter. SJS Investment Consulting Inc. now owns 191 shares of the CRM provider’s stock worth $40,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $2.57 on Monday, reaching $223.79. The stock had a trading volume of 1,231,493 shares, compared to its average volume of 6,421,873. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day moving average price is $208.52 and its two-hundred day moving average price is $211.92. The stock has a market cap of $217.75 billion, a P/E ratio of 139.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.18. Salesforce, Inc. has a fifty-two week low of $126.34 and a fifty-two week high of $238.22.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.22. Salesforce had a net margin of 4.77% and a return on equity of 7.67%. The company had revenue of $8.60 billion during the quarter, compared to analysts’ expectations of $8.53 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Salesforce, Inc. will post 5.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $275.00 price objective on shares of Salesforce in a research note on Wednesday, October 4th. Stifel Nicolaus upped their price target on Salesforce from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, August 31st. Oppenheimer raised their price objective on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. Jefferies Financial Group boosted their target price on Salesforce from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. Finally, Barclays upped their target price on Salesforce from $245.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.28.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $209.85, for a total value of $262,312.50. Following the sale, the insider now owns 101,790 shares in the company, valued at $21,360,631.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $220.94, for a total value of $3,314,100.00. Following the sale, the chief executive officer now owns 14,876,166 shares of the company’s stock, valued at $3,286,740,116.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $209.85, for a total transaction of $262,312.50. Following the transaction, the insider now owns 101,790 shares of the company’s stock, valued at approximately $21,360,631.50. The disclosure for this sale can be found here. Insiders sold a total of 671,788 shares of company stock worth $141,136,481 over the last three months. 3.70% of the stock is currently owned by insiders.

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.