TFB Advisors LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

TFB Advisors LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,986 shares of the CRM provider’s stock after buying an additional 63 shares during the period. TFB Advisors LLC’s holdings in Salesforce were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Capital Research Global Investors lifted its position in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new stake in Salesforce in the first quarter valued at approximately $910,220,000. Swedbank AB purchased a new position in Salesforce in the first quarter worth $874,748,000. Veritas Asset Management LLP acquired a new position in shares of Salesforce during the third quarter worth $733,805,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of NYSE CRM opened at $310.78 on Friday. The stock’s 50-day simple moving average is $275.30 and its 200-day simple moving average is $263.86. The firm has a market capitalization of $297.11 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $208.84 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm earned $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.51%. Salesforce’s payout ratio is 27.83%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 directly owns 117,581 shares in the company, valued at approximately $29,932,595.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,573 shares of company stock worth $42,319,874. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Roth Mkm reiterated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Loop Capital reiterated a “hold” rating and set a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $313.37.

About Salesforce

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.