Tsfg LLC Has $2.25 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Tsfg LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 386.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,740 shares of the CRM provider’s stock after acquiring an additional 6,945 shares during the period. Tsfg LLC’s holdings in Salesforce were worth $2,247,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce during the fourth quarter worth about $26,000. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.3 %

CRM stock traded up $0.69 during mid-day trading on Wednesday, reaching $255.29. The company’s stock had a trading volume of 4,145,076 shares, compared to its average volume of 6,643,934. The company has a market cap of $247.38 billion, a price-to-earnings ratio of 46.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The business’s 50 day moving average price is $248.27 and its 200 day moving average price is $273.40. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the transaction, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,136 shares of company stock valued at $52,228,109. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of research analyst reports. Citigroup lowered their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Barclays dropped their price target on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price target on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Robert W. Baird lowered their price objective on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Finally, Wells Fargo & Company decreased their price target on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One investment 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce 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.