Salesforce, Inc. (NYSE:CRM) Shares Bought by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,499 shares of the CRM provider’s stock after buying an additional 879 shares during the period. Salesforce comprises 1.6% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 16th largest position. Trifecta Capital Advisors LLC’s holdings in Salesforce were worth $6,776,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. Graypoint LLC grew its stake in shares of Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its position in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC raised its holdings in shares of Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the period. Finally, Prentice Wealth Management LLC lifted its stake in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Oppenheimer dropped their price objective on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. DA Davidson reduced their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets dropped their price objective on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Barclays reduced their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Price Performance

NYSE:CRM traded up $4.25 on Friday, hitting $257.10. The company had a trading volume of 12,619,303 shares, compared to its average volume of 11,223,949. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $249.13 billion, a price-to-earnings ratio of 46.24, a PEG ratio of 2.22 and a beta of 1.25. The firm has a 50 day moving average of $259.79 and a two-hundred day moving average of $276.20.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio is currently 7.19%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,193,087.81. The disclosure for this sale can be found here. Insiders sold a total of 547,387 shares of company stock worth $151,174,635 in the last quarter. 3.20% of the stock is owned by insiders.

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.