Salesforce Inc. $CRM Stock Sold by Teamwork Financial Advisors LLC

Key Points

• Teamwork Financial Advisors cut its Salesforce position by 91.5% in the third quarter, selling 11,815 shares and retaining 1,097 shares worth approximately $252,000. Institutional investors overall own 80.43% of Salesforce.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $278.40; Guggenheim and Canaccord Genuity raised their targets to $300.
• Salesforce reported quarterly earnings of $5.90 per share, well above the $3.27 consensus estimate, while revenue rose 10.8% year over year to $11.35 billion. The company also pays a quarterly dividend of $0.44 per share, yielding 0.7% annually.

Teamwork Financial Advisors LLC cut its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 91.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097 shares of the CRM provider's stock after selling 11,815 shares during the period. Teamwork Financial Advisors LLC's holdings in Salesforce were worth $252,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Salesforce during the 2nd quarter worth about $11,396,844,000. Arrowstreet Capital Limited Partnership raised its position in shares of Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock valued at $2,363,096,000 after buying an additional 7,160,302 shares in the last quarter. Bank of America Corp DE bought a new stake in Salesforce during the second quarter worth $1,914,086,000. Legal & General Group Plc acquired a new stake in Salesforce in the second quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $844,928,000. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. Citigroup restated a "market outperform" rating on shares of Salesforce in a research report on Friday, September 18th. Guggenheim lifted their target price on Salesforce from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, September 17th. Oppenheimer reiterated an "outperform" rating on shares of Salesforce in a research report on Thursday, September 17th. Canaccord Genuity Group increased their price objective on shares of Salesforce from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, September 17th. Finally, Barclays lowered Salesforce from an "overweight" rating to a "positive" rating in a research note on Monday, October 12th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $278.40.

Salesforce Price Performance

Shares of CRM traded up $2.07 during trading hours on Monday, reaching $242.77. 7,038,715 shares of the company's stock traded hands, compared to its average volume of 13,517,932. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a market cap of $199.80 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. The firm's 50 day simple moving average is $232.38 and its 200-day simple moving average is $195.29.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping the consensus estimate of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to analysts' expectations of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. Salesforce's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Equities analysts expect that Salesforce Inc. will post 12.82 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 17th. Salesforce's payout ratio is currently 16.04%.

Insider Transactions at Salesforce

In other news, Director David Blair Kirk acquired 4,176 shares of Salesforce stock in a transaction on Friday, September 18th. The stock was acquired at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the purchase, the director owned 18,748 shares in the company, valued at $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares of the company's stock, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company's stock.

Salesforce Company Profile

Salesforce, Inc NYSE: CRM is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company's products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.

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