Hengehold Capital Management LLC Has $694,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Hengehold Capital Management LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,304 shares of the CRM provider’s stock after selling 100 shares during the period. Hengehold Capital Management LLC’s holdings in Salesforce were worth $694,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. lifted its holdings in shares of 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. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CRM shares. Canaccord Genuity Group dropped their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Piper Sandler dropped their price target on Salesforce from $300.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Robert W. Baird dropped their price target on Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Bank of America lifted their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Mizuho dropped their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Price Performance

Salesforce stock traded up $5.14 during midday trading on Friday, hitting $257.99. 6,411,376 shares of the company’s stock were exchanged, compared to its average volume of 6,934,736. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a 50-day moving average price of $260.43 and a two-hundred day moving average price of $276.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $249.99 billion, a P/E ratio of 46.43, a PEG ratio of 2.13 and a beta of 1.25.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s payout ratio is currently 7.19%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total value of $1,267,350.00. Following the completion of the sale, the insider now owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total value of $1,267,350.00. Following the completion of the sale, the insider now owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. In the last three months, insiders sold 541,787 shares of company stock worth $149,773,683. 3.20% of the stock is currently owned by corporate insiders.

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.