Salesforce Inc. (NYSE:CRM) Shares Acquired by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC significantly increased its holdings in Salesforce Inc. by 95.9%, purchasing an additional 1,696 shares, bringing its total ownership to 3,464 shares valued at approximately $930,000.
• Multiple hedge funds, including Lynwood Price Capital Management LP, made substantial increases in their positions in Salesforce during the first quarter, reflecting strong institutional interest as 80.43% of the stock is owned by institutional investors.
• Salesforce recently reported quarterly earnings with an EPS of $2.58, exceeding analysts' expectations, and the stock has seen a consensus rating of "Moderate Buy" with an average target price of $348.16.

Howland Capital Management LLC lifted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 95.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,464 shares of the CRM provider's stock after buying an additional 1,696 shares during the quarter. Howland Capital Management LLC's holdings in Salesforce were worth $930,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $27,000. Wood Tarver Financial Group LLC bought a new position in shares of Salesforce in the fourth quarter worth about $35,000. Capital A Wealth Management LLC grew its position in shares of Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Westpark Capital reiterated a "buy" rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Stephens cut their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Piper Sandler increased their target price on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company raised their price target on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Trading Down 2.9%

NYSE CRM traded down $7.48 during trading hours on Friday, reaching $250.85. The company had a trading volume of 7,643,247 shares, compared to its average volume of 5,567,701. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The stock has a 50-day moving average of $266.04 and a 200 day moving average of $282.19. The stock has a market capitalization of $239.81 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the business posted $2.44 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $259.67, for a total value of $584,257.50. Following the completion of the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at $3,104,501,823.22. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider directly owned 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,729 shares of company stock valued at $10,763,881. Company insiders own 3.20% of the company's stock.

Salesforce Company 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.