Bouvel Investment Partners LLC Has $5.87 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Bouvel Investment Partners LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,495 shares of the CRM provider’s stock after selling 89 shares during the period. Salesforce accounts for approximately 2.5% of Bouvel Investment Partners LLC’s holdings, making the stock its 10th largest holding. Bouvel Investment Partners LLC’s holdings in Salesforce were worth $5,871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Seed Wealth Management Inc. increased its position in shares of Salesforce by 1.1% in the 1st quarter. Seed Wealth Management Inc. now owns 3,690 shares of the CRM provider’s stock valued at $1,115,000 after buying an additional 40 shares in the last quarter. Scharf Investments LLC increased its holdings in shares of Salesforce by 69.9% in the first quarter. Scharf Investments LLC now owns 6,248 shares of the CRM provider’s stock worth $1,882,000 after acquiring an additional 2,570 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Salesforce by 94.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 144,179 shares of the CRM provider’s stock worth $43,424,000 after purchasing an additional 69,953 shares during the period. ERn Financial LLC bought a new position in shares of Salesforce during the 1st quarter valued at about $202,000. Finally, Janiczek Wealth Management LLC grew its position in shares of Salesforce by 7.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,286 shares of the CRM provider’s stock valued at $387,000 after purchasing an additional 89 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM traded up $9.82 during trading on Thursday, hitting $252.97. The stock had a trading volume of 12,862,790 shares, compared to its average volume of 6,938,266. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $245.13 billion, a price-to-earnings ratio of 45.48, a P/E/G ratio of 2.12 and a beta of 1.25. The company has a 50 day moving average price of $260.43 and a 200-day moving average price of $276.33. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the company posted $1.15 earnings per share. Salesforce’s revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director G Mason Morfit acquired 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 541,787 shares of company stock worth $149,773,683. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Macquarie reduced their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. TD Cowen lowered their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Stifel Nicolaus cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, KeyCorp initiated coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.79.

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.