Mmbg Investment Advisors CO. Sells 5,911 Shares of Salesforce Inc. $CRM

Key Points

• Mmbg Investment Advisors trimmed its Salesforce stake by 7.4% in the fourth quarter, selling 5,911 shares and leaving it with 73,716 shares worth about $19.6 million.
• Salesforce recently reported stronger-than-expected quarterly results, with EPS of $3.81 beating estimates and revenue rising 12.1% year over year to $11.2 billion.
• The company also announced a $25 billion share repurchase program, while analysts still view the stock as a Moderate Buy with an average price target of $274.12.

Mmbg Investment Advisors CO. lessened its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,716 shares of the CRM provider's stock after selling 5,911 shares during the period. Salesforce accounts for approximately 1.6% of Mmbg Investment Advisors CO.'s holdings, making the stock its 12th biggest position. Mmbg Investment Advisors CO.'s holdings in Salesforce were worth $19,559,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Board of the Pension Protection Fund purchased a new position in shares of Salesforce in the 4th quarter worth $26,000. Key Capital Management INC purchased a new position in shares of Salesforce during the 4th quarter worth about $26,000. Legacy Bridge LLC purchased a new stake in Salesforce in the 4th quarter valued at about $27,000. Texas Capital Bancshares Inc TX purchased a new stake in Salesforce in the 3rd quarter valued at about $28,000. Finally, Dogwood Wealth Management LLC boosted its position in Salesforce by 285.7% in the 4th quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider's stock valued at $29,000 after buying an additional 80 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRM. Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 26th. Oppenheimer dropped their target price 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. Wells Fargo & Company dropped their price objective on shares of Salesforce from $235.00 to $210.00 and set an "equal weight" rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Salesforce from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Finally, Stifel Nicolaus lowered their price target on shares of Salesforce from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $274.12.

Salesforce Trading Up 0.1%

Shares of CRM stock opened at $180.32 on Tuesday. Salesforce Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $280.74. The company has a 50 day moving average price of $181.89 and a 200 day moving average price of $212.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $147.54 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.14.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, topping the consensus estimate of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The company 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 revenue was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Equities research analysts predict that Salesforce Inc. will post 9.71 EPS for the current fiscal year.

Salesforce announced that its board has authorized a share repurchase program on Monday, March 16th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the CRM provider to buy up to 14.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director David Blair Kirk purchased 2,570 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $194.62 per share, with a total value of $500,173.40. Following the purchase, the director directly owned 13,689 shares in the company, valued at $2,664,153.18. This trade represents a 23.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Laura Alber acquired 2,571 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average cost of $194.58 per share, for a total transaction of $500,265.18. Following the completion of the purchase, the director owned 9,530 shares in the company, valued at $1,854,347.40. The trade was a 36.94% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is currently owned by corporate insiders.

About Salesforce

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.

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