Arkadios Wealth Advisors Acquires 1,886 Shares of Salesforce, Inc. (NYSE:CRM)

Arkadios Wealth Advisors raised its position in Salesforce, Inc. (NYSE:CRM – Get Rating) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,680 shares of the CRM provider’s stock after buying an additional 1,886 shares during the quarter. Arkadios Wealth Advisors’ holdings in Salesforce were worth $3,007,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in Salesforce by 506.1% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 200 shares of the CRM provider’s stock valued at $29,000 after buying an additional 167 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Salesforce by 113.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 207 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 110 shares in the last quarter. HBC Financial Services PLLC boosted its stake in shares of Salesforce by 350.0% in the 2nd quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after purchasing an additional 175 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Finally, Hoey Investments Inc. acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $41,000. 75.83% of the stock is owned by institutional investors.

Salesforce Trading Down 1.3 %

Shares of NYSE:CRM traded down $2.45 during mid-day trading on Friday, hitting $184.85. The company had a trading volume of 10,493,254 shares, compared to its average volume of 9,626,618. The company has a market capitalization of $184.85 billion, a PE ratio of 880.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.21. The firm has a fifty day moving average price of $166.43 and a 200 day moving average price of $153.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.02 and a quick ratio of 1.02. Salesforce, Inc. has a one year low of $126.34 and a one year high of $222.15.

Salesforce (NYSE:CRM – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The CRM provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.32. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $7.99 billion. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. Salesforce’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 4.88 EPS for the current year.

Salesforce declared that its board has initiated a share buyback program on Wednesday, March 1st that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the CRM provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Salesforce in a research note on Thursday. They issued a “buy” rating on the stock. JMP Securities restated a “market perform” rating and issued a $250.00 price target on shares of Salesforce in a research note on Thursday, March 2nd. Stifel Nicolaus reduced their price target on shares of Salesforce from $200.00 to $185.00 in a research note on Monday, November 28th. Loop Capital lifted their target price on shares of Salesforce from $150.00 to $190.00 and gave the stock a “hold” rating in a research report on Thursday, March 2nd. Finally, Robert W. Baird lifted their target price on shares of Salesforce from $150.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.24.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 924 shares of the business’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $128.55, for a total transaction of $118,780.20. Following the completion of the sale, the chief financial officer now owns 32,807 shares in the company, valued at approximately $4,217,339.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, insider Parker Harris sold 7,500 shares of Salesforce stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $188.18, for a total transaction of $1,411,350.00. Following the transaction, the insider now directly owns 96,795 shares of the company’s stock, valued at approximately $18,214,883.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 924 shares of Salesforce stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $128.55, for a total transaction of $118,780.20. Following the transaction, the chief financial officer now directly owns 32,807 shares in the company, valued at $4,217,339.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,268 shares of company stock worth $6,641,547. 3.60% of the stock is owned by corporate insiders.

Salesforce Company Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.