Salesforce Inc. $CRM Position Cut by Mmbg Investment Advisors CO.

Mmbg Investment Advisors CO. trimmed its stake in Salesforce Inc. (NYSE:CRM) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 73,716 shares of the CRM provider’s stock after selling 5,911 shares during the quarter. Salesforce accounts for approximately 1.6% of Mmbg Investment Advisors CO.’s holdings, making the stock its 12th biggest holding. Mmbg Investment Advisors CO.’s holdings in Salesforce were worth $19,559,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CRM. Capital World Investors raised its stake in shares of Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock valued at $4,106,255,000 after purchasing an additional 10,636,161 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Salesforce during the third quarter valued at about $484,852,000. Alyeska Investment Group L.P. raised its stake in shares of Salesforce by 285.4% during the third quarter. Alyeska Investment Group L.P. now owns 2,487,627 shares of the CRM provider’s stock valued at $589,568,000 after purchasing an additional 1,842,117 shares in the last quarter. Generation Investment Management LLP bought a new stake in shares of Salesforce during the third quarter valued at about $431,157,000. Finally, Capital International Investors raised its stake in shares of Salesforce by 9.4% during the third quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock valued at $4,753,519,000 after purchasing an additional 1,729,440 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, Director Laura Alber purchased 2,571 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $194.58 per share, for a total transaction of $500,265.18. Following the completion of the acquisition, the director directly owned 9,530 shares in the company, valued at $1,854,347.40. This represents a 36.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Blair Kirk purchased 2,570 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $194.62 per share, with a total value of $500,173.40. Following the completion of the acquisition, the director owned 13,689 shares of the company’s stock, valued at approximately $2,664,153.18. The trade was a 23.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRM. Piper Sandler cut their price objective on shares of Salesforce from $250.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Northland Securities dropped their price target on shares of Salesforce from $267.00 to $229.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. BTIG Research reiterated a “buy” rating and issued a $255.00 price target on shares of Salesforce in a research report on Friday, April 17th. Oppenheimer dropped their price target on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Wall Street Zen cut shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $274.12.

Salesforce Trading Up 0.1%

Shares of NYSE CRM opened at $180.32 on Tuesday. The stock has a market cap of $147.54 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 1.25 and a beta of 1.14. The business has a 50 day simple moving average of $181.89 and a 200 day simple moving average of $212.11. Salesforce Inc. has a 52 week low of $163.52 and a 52 week high of $280.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.76.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.05 by $0.76. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The business had revenue of $11.20 billion during the quarter, compared to analysts’ expectations of $11.18 billion. During the same quarter in the previous year, the business posted $2.78 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, research analysts predict that Salesforce Inc. will post 9.71 earnings per share for the current fiscal year.

Salesforce announced that its Board of Directors has authorized a share repurchase plan on Monday, March 16th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.