Telos Capital Management Inc. Invests $649,000 in Salesforce, Inc. (NYSE:CRM)

Telos Capital Management Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,468 shares of the CRM provider’s stock, valued at approximately $649,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in Salesforce in the fourth quarter valued at about $26,000. BKM Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $34,000. Pacifica Partners Inc. raised its stake in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. AlphaMark Advisors LLC raised its stake in Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc acquired a new position in Salesforce in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, insider R David Schmaier sold 3,910 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70. Following the completion of the transaction, the insider now owns 19,463 shares in the company, valued at approximately $5,347,848.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders sold 907,149 shares of company stock worth $262,952,448 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Salesforce Price Performance

Salesforce stock opened at $276.33 on Thursday. The stock has a market capitalization of $268.04 billion, a price-to-earnings ratio of 65.79, a PEG ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The stock’s 50 day moving average price is $298.10 and its two-hundred day moving average price is $260.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. On average, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Mizuho reissued a “buy” rating and set a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Canaccord Genuity Group reissued a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Finally, Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $307.87.

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.