TTP Investments Inc. Purchases Shares of 12,572 Salesforce Inc. $CRM

Key Points

• TTP Investments Inc. has acquired 12,572 shares of Salesforce Inc. valued at approximately $3.4 million, making it the firm's 21st largest position.
• Salesforce's Q2 earnings reported $2.91 EPS, exceeding the expected $2.78, and a revenue of $10.24 billion against an expectation of $10.14 billion.
• The company has a consensus rating of "Moderate Buy" with a target price averaging around $332.58 as evaluated by several analysts.

TTP Investments Inc. bought a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,572 shares of the CRM provider's stock, valued at approximately $3,428,000. Salesforce makes up approximately 1.1% of TTP Investments Inc.'s investment portfolio, making the stock its 21st largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Farther Finance Advisors LLC grew its position in Salesforce by 23.1% in the second quarter. Farther Finance Advisors LLC now owns 23,134 shares of the CRM provider's stock worth $6,309,000 after buying an additional 4,337 shares during the last quarter. Silver Oak Securities Incorporated grew its position in Salesforce by 4.0% in the second quarter. Silver Oak Securities Incorporated now owns 3,158 shares of the CRM provider's stock worth $861,000 after buying an additional 121 shares during the last quarter. CX Institutional grew its position in Salesforce by 319.3% in the second quarter. CX Institutional now owns 24,259 shares of the CRM provider's stock worth $6,615,000 after buying an additional 18,474 shares during the last quarter. BDF Gestion grew its position in Salesforce by 27.8% in the second quarter. BDF Gestion now owns 32,120 shares of the CRM provider's stock worth $8,759,000 after buying an additional 6,983 shares during the last quarter. Finally, CMH Wealth Management LLC grew its position in Salesforce by 5.8% in the second quarter. CMH Wealth Management LLC now owns 27,420 shares of the CRM provider's stock worth $7,488,000 after buying an additional 1,503 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In related news, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the acquisition, the director directly owned 3,824 shares in the company, valued at approximately $973,819.84. The trade was a 801.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $269.38, for a total transaction of $606,105.00. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,208,738,995.98. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,250 shares of company stock worth $18,844,155. Insiders own 3.00% of the company's stock.

Salesforce Trading Down 1.7%

CRM stock traded down $4.25 during midday trading on Tuesday, reaching $245.45. The company's stock had a trading volume of 4,603,651 shares, compared to its average volume of 7,593,650. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The stock has a market cap of $233.66 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 2.25 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $250.58 and its 200-day simple moving average is $262.38.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, sell-side analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is currently 24.13%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays decreased their price target on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Sanford C. Bernstein lowered their price objective on shares of Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research report on Thursday, September 4th. Macquarie reissued a "neutral" rating and set a $290.00 target price on shares of Salesforce in a research note on Thursday, September 4th. Stephens dropped their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Finally, Citigroup upped their price objective on shares of Salesforce from $275.00 to $276.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $332.58.

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.