Fulcrum Capital LLC Trims Stock Position in Salesforce, Inc. (NYSE:CRM)

Fulcrum Capital LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 23.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,438 shares of the CRM provider’s stock after selling 445 shares during the period. Fulcrum Capital LLC’s holdings in Salesforce were worth $394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. raised its stake in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC purchased a new stake in Salesforce during the 1st quarter valued at approximately $33,000. Clear Investment Research LLC raised its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Finally, Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

CRM stock opened at $284.37 on Thursday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock’s fifty day simple moving average is $268.70 and its 200-day simple moving average is $263.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $275.55 billion, a price-to-earnings ratio of 51.15, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,812 shares of company stock worth $23,418,916. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRM. Wedbush increased their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Oppenheimer increased their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Finally, Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.66.

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.