Salesforce, Inc. (NYSE:CRM) Shares Bought by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 296.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,790 shares of the CRM provider's stock after buying an additional 3,582 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Salesforce were worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CRM. Athena Investment Management bought a new position in Salesforce during the fourth quarter valued at approximately $236,000. Jag Capital Management LLC lifted its position in Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after purchasing an additional 22,797 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $2,861,000. Atlantic Union Bankshares Corp grew its holdings in shares of Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock worth $9,146,000 after purchasing an additional 723 shares during the last quarter. Finally, Dash Acquisitions Inc. increased its stake in shares of Salesforce by 2.6% in the fourth quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock worth $21,785,000 after buying an additional 1,525 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider now directly owns 41,422 shares of the company's stock, valued at $12,219,490. This represents a 13.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRM. Westpark Capital reiterated a "buy" rating and set a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Citigroup cut their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating on the stock. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research report on Tuesday. They set an "overweight" rating and a $325.00 price target for the company. Finally, Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Salesforce Price Performance

Shares of NYSE CRM traded up $3.64 during mid-day trading on Thursday, hitting $266.81. 8,638,662 shares of the company's stock traded hands, compared to its average volume of 6,624,516. The company has a market capitalization of $255.07 billion, a P/E ratio of 43.88, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50-day moving average is $266.51 and its two-hundred day moving average is $303.30. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is currently 25.98%.

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.