Tlwm Has $1.76 Million Position in Salesforce, Inc. (NYSE:CRM)

Tlwm raised its position in Salesforce, Inc. (NYSE:CRM) by 28.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,417 shares of the CRM provider’s stock after buying an additional 1,410 shares during the quarter. Salesforce accounts for 0.4% of Tlwm’s holdings, making the stock its 21st biggest holding. Tlwm’s holdings in Salesforce were worth $1,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Research Global Investors increased its stake in Salesforce by 26.9% during 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 during the period. GQG Partners LLC bought a new position in shares of Salesforce in the first quarter worth $910,220,000. Swedbank AB bought a new position in shares of Salesforce in the first quarter worth $874,748,000. Coatue Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $564,188,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRM shares. TD Cowen raised their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Robert W. Baird raised their target price on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Trading Down 1.1 %

NYSE CRM opened at $284.48 on Tuesday. The stock has a market capitalization of $275.66 billion, a P/E ratio of 51.17, a P/E/G ratio of 2.39 and a beta of 1.30. The business has a 50 day simple moving average of $258.53 and a 200 day simple moving average of $264.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $193.68 and a one 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, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. During the same quarter in the previous year, the company earned $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In other news, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,412 shares of company stock valued at $20,071,723. 3.20% of the stock is owned by company insiders.

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.