Salesforce, Inc. (NYSE:CRM) Shares Bought by TCG Advisory Services LLC

TCG Advisory Services LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1,442.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,577 shares of the CRM provider’s stock after acquiring an additional 66,001 shares during the quarter. Salesforce comprises about 1.3% of TCG Advisory Services LLC’s holdings, making the stock its 14th largest position. TCG Advisory Services LLC’s holdings in Salesforce were worth $18,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Carroll Financial Partners LLC grew its holdings in shares of Salesforce by 102.7% during the 4th quarter. Charles Carroll Financial Partners LLC now owns 7,600 shares of the CRM provider’s stock worth $2,000,000 after purchasing an additional 3,850 shares during the period. AJOVista LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $204,000. Baxter Bros Inc. grew its holdings in shares of Salesforce by 7.0% during the 4th quarter. Baxter Bros Inc. now owns 2,029 shares of the CRM provider’s stock worth $534,000 after purchasing an additional 133 shares during the period. Provence Wealth Management Group boosted its holdings in Salesforce by 15.0% in the 4th quarter. Provence Wealth Management Group now owns 2,403 shares of the CRM provider’s stock worth $632,000 after acquiring an additional 313 shares during the period. Finally, Blue Fin Capital Inc. boosted its holdings in Salesforce by 3.3% in the 4th quarter. Blue Fin Capital Inc. now owns 2,350 shares of the CRM provider’s stock worth $618,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CRM. Evercore ISI upped their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Jefferies Financial Group upped their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Wolfe Research restated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Stock Performance

NYSE:CRM traded up $1.53 during mid-day trading on Friday, hitting $273.66. The stock had a trading volume of 4,041,636 shares, compared to its average volume of 5,219,539. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $294.23 and a 200-day simple moving average of $266.17. The stock has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.16, a P/E/G ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company 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 business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date 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%.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at approximately $17,230,643.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the completion of the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the sale, the chief executive officer now directly owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 629,993 shares of company stock valued at $184,255,474. Company insiders own 3.70% of the company’s stock.

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.