Tsfg LLC Lowers Stock Position in Salesforce, Inc. (NYSE:CRM)

Tsfg LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,626 shares of the CRM provider’s stock after selling 200 shares during the quarter. Tsfg LLC’s holdings in Salesforce were worth $2,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter worth $33,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in shares of Salesforce by 38.3% in the second quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock valued at $53,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRM shares. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research report on Monday, January 6th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Finally, Bank of America lifted their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Stock Performance

Shares of Salesforce stock opened at $319.39 on Tuesday. The company has a 50 day moving average price of $336.25 and a 200 day moving average price of $290.19. The firm has a market capitalization of $305.66 billion, a P/E ratio of 52.53, a PEG ratio of 3.21 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the business posted $1.62 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.