JT Stratford LLC Purchases 5,131 Shares of Salesforce Inc. $CRM

Key Points

• JT Stratford LLC increased its stake in Salesforce by 231.6% in Q2, buying 5,131 shares to hold 7,346 shares valued at about $2.00 million.
• Notable insider activity: CEO Marc Benioff sold 2,250 shares (~$565k) while director David Blair Kirk bought 3,400 shares (~$866k); insiders have sold 51,872 shares (~$12.8M) over the past 90 days and own 3.0% of the stock.
• Analyst sentiment is a Moderate Buy (26 Buys, 13 Holds, 1 Sell) with a consensus target of $325.42, and Salesforce recently beat estimates with $2.91 EPS and $10.24B revenue for the quarter.

JT Stratford LLC grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 231.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,346 shares of the CRM provider's stock after buying an additional 5,131 shares during the period. JT Stratford LLC's holdings in Salesforce were worth $2,003,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CRM. Brighton Jones LLC boosted its stake in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC grew its holdings in Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after acquiring an additional 184 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Salesforce during the 1st quarter worth $511,000. Finally, New Age Alpha Advisors LLC raised its position in shares of Salesforce by 237.3% during the 1st quarter. New Age Alpha Advisors LLC now owns 34,739 shares of the CRM provider's stock valued at $9,323,000 after acquiring an additional 24,440 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $251.12, for a total transaction of $565,020.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,991,233,709.52. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Blair Kirk bought 3,400 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was purchased at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, the director directly owned 3,824 shares in the company, valued at approximately $973,819.84. This represents a 801.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 51,872 shares of company stock valued at $12,801,203 over the last ninety days. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Sanford C. Bernstein reduced their price target on Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research report on Thursday, September 4th. Mizuho decreased their target price on Salesforce from $350.00 to $340.00 and set an "outperform" rating for the company in a research report on Monday, November 17th. Morgan Stanley boosted their target price on Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $325.00 price target on shares of Salesforce in a research report on Tuesday, November 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, October 16th. Twenty-six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $325.42.

Salesforce Stock Up 0.9%

Shares of CRM stock opened at $234.84 on Wednesday. Salesforce Inc. has a 12-month low of $221.96 and a 12-month high of $369.00. 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 firm has a fifty day moving average of $242.92 and a 200-day moving average of $253.21. The company has a market capitalization of $223.57 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 1.83 and a beta of 1.25.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. The business 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 firm's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.56 EPS. As a group, equities research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce's payout ratio is 24.13%.

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.

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