43,000 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Tairen Capital Ltd

Tairen Capital Ltd bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,000 shares of the CRM provider’s stock, valued at approximately $11,055,000. Salesforce makes up 0.4% of Tairen Capital Ltd’s holdings, making the stock its 12th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in CRM. Capital International Investors boosted its holdings in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. GQG Partners LLC bought a new stake in Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB bought a new stake in Salesforce during the 1st quarter worth approximately $874,748,000. Finally, Coatue Management LLC bought a new stake in Salesforce during the 4th quarter worth approximately $564,188,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,920,275.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,891 shares of company stock worth $16,306,944. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRM shares. Citigroup increased their price target on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. TD Cowen increased their price target on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. DA Davidson increased their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer increased their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Macquarie decreased their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $306.00.

Salesforce Price Performance

CRM stock opened at $266.80 on Monday. The stock has a 50-day moving average price of $254.14 and a two-hundred day moving average price of $266.18. The stock has a market cap of $258.53 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last released its 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 firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 EPS. Equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.