TFB Advisors LLC Has $544,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

TFB Advisors LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,986 shares of the CRM provider’s stock after purchasing an additional 63 shares during the quarter. TFB Advisors LLC’s holdings in Salesforce were worth $544,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Dudley Capital Management LLC raised its stake in shares of Salesforce by 1.2% in the third quarter. Dudley Capital Management LLC now owns 4,274 shares of the CRM provider’s stock valued at $1,170,000 after acquiring an additional 51 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Salesforce in the third quarter worth $1,745,000. Consolidated Planning Corp bought a new stake in shares of Salesforce during the third quarter worth $206,000. Valley Brook Capital Group Inc. grew its holdings in Salesforce by 2.2% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,779 shares of the CRM provider’s stock worth $1,308,000 after acquiring an additional 105 shares during the last quarter. Finally, Castle Wealth Management LLC increased its position in Salesforce by 18.5% in the 3rd quarter. Castle Wealth Management LLC now owns 5,903 shares of the CRM provider’s stock valued at $1,618,000 after acquiring an additional 923 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRM shares. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Sanford C. Bernstein raised their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 4,056 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,573 shares of company stock worth $42,319,874. 3.20% of the stock is owned by insiders.

Salesforce Trading Up 1.3 %

NYSE CRM opened at $310.78 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $297.11 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.70 and a beta of 1.29. The stock’s 50-day simple moving average is $275.30 and its two-hundred day simple moving average is $263.86. Salesforce, Inc. has a twelve month low of $208.84 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. Research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

About Salesforce

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.