Salesforce, Inc. (NYSE:CRM) Stock Holdings Lifted by KRS Capital Management LLC

KRS Capital Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,706 shares of the CRM provider’s stock after acquiring an additional 90 shares during the period. Salesforce comprises approximately 1.4% of KRS Capital Management LLC’s holdings, making the stock its 12th largest position. KRS Capital Management LLC’s holdings in Salesforce were worth $1,719,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $31,000. Pacifica Partners Inc. boosted its holdings in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $34,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.7 %

Shares of Salesforce stock opened at $257.10 on Friday. The company’s fifty day moving average price is $259.79 and its two-hundred day moving average price is $276.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market capitalization of $249.13 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is 7.19%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRM shares. Robert W. Baird reduced their target price on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Raymond James reiterated a “strong-buy” rating and issued a $325.00 target price (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Argus lifted their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley reduced their target price on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Piper Sandler reduced their target price on shares of Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the transaction, the chief executive officer now owns 13,011,166 shares in the company, valued at approximately $3,925,729,005.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the transaction, the chief executive officer now directly owns 13,011,166 shares in the company, valued at approximately $3,925,729,005.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders have sold a total of 547,387 shares of company stock worth $151,174,635 in the last 90 days. Corporate 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.