Salesforce Inc. $CRM Stake Decreased by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lowered its holdings in Salesforce Inc. (NYSE:CRM) by 91.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,097 shares of the CRM provider’s stock after selling 11,815 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Salesforce were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. BlackRock Inc. purchased a new stake in shares of Salesforce during the second quarter valued at $11,396,844,000. Bank of America Corp DE purchased a new position in Salesforce in the 2nd quarter worth about $1,914,086,000. Arrowstreet Capital Limited Partnership raised its position in Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after buying an additional 7,160,302 shares during the last quarter. Legal & General Group Plc bought a new position in Salesforce during the 2nd quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp bought a new position in Salesforce during the 2nd quarter valued at about $844,928,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of CRM traded up $2.07 during trading hours on Monday, reaching $242.77. 7,038,715 shares of the company traded hands, compared to its average volume of 13,517,932. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The business has a fifty day moving average price of $232.38 and a 200-day moving average price of $195.29. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11. The stock has a market capitalization of $199.80 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.09 and a beta of 1.26.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping the consensus estimate of $3.27 by $2.63. The company had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Equities analysts anticipate that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 17th. Salesforce’s dividend payout ratio (DPR) is presently 16.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CRM shares. Barclays cut Salesforce from an “overweight” rating to a “positive” rating in a report on Monday, October 12th. Bank of America upgraded shares of Salesforce from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $160.00 to $285.00 in a research report on Monday, October 12th. Citigroup reissued a “market outperform” rating on shares of Salesforce in a report on Friday, September 18th. Susquehanna started coverage on Salesforce in a report on Wednesday, July 1st. They issued a “neutral” rating on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $300.00 target price on shares of Salesforce in a report on Wednesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $278.40.

Insider Activity

In other Salesforce news, Director Craig Conway sold 4,500 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Blair Kirk purchased 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The shares were bought at an average price of $239.33 per share, with a total value of $999,442.08. Following the completion of the transaction, the director owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by insiders.

Salesforce Company Profile

Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.