TFR Capital LLC. Takes Position in Salesforce Inc. (NYSE:CRM)

TFR Capital LLC. purchased a new position in Salesforce Inc. (NYSE:CRM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,495 shares of the CRM provider's stock, valued at approximately $401,000.

A number of other institutional investors also recently added to or reduced their stakes in CRM. Brighton Jones LLC lifted its position in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Salesforce by 12.6% in the 4th 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 period. Proficio Capital Partners LLC increased its holdings in shares of Salesforce by 70.4% in the 4th quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider's stock valued at $933,000 after acquiring an additional 1,153 shares during the period. AGF Management Ltd. increased its holdings in shares of Salesforce by 59.3% in the 4th quarter. AGF Management Ltd. now owns 5,599 shares of the CRM provider's stock valued at $1,872,000 after acquiring an additional 2,085 shares during the period. Finally, Associated Banc Corp acquired a new position in shares of Salesforce in the 4th quarter valued at $228,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 0.1%

Shares of NYSE CRM traded up $0.26 on Wednesday, reaching $257.84. 5,646,683 shares of the company traded hands, compared to its average volume of 6,554,530. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company has a 50 day moving average of $271.51 and a 200 day moving average of $287.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $246.49 billion, a PE ratio of 40.35, a P/E/G ratio of 2.33 and a beta of 1.36.

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

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 261 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $68,473.35. Following the completion of the sale, the chief accounting officer owned 12,024 shares of the company's stock, valued at $3,154,496.40. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 1,269 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $332,922.15. Following the completion of the sale, the insider directly owned 42,678 shares of the company's stock, valued at $11,196,573.30. This trade represents a 2.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,569 shares of company stock worth $8,533,528. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Macquarie reissued a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Sanford C. Bernstein boosted their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Finally, Mizuho dropped their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Salesforce 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.