Teamwork Financial Advisors LLC Buys 3,582 Shares of Salesforce, Inc. (NYSE:CRM)

Teamwork Financial Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 296.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,790 shares of the CRM provider’s stock after acquiring an additional 3,582 shares during the period. Teamwork Financial Advisors LLC’s holdings in Salesforce were worth $1,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. OMC Financial Services LTD raised its stake in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the period. Prossimo Advisors LLC grew its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the period. Mainstream Capital Management LLC raised its position in shares of Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after acquiring an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in shares of Salesforce by 3.9% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock valued at $300,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Bank of America cut their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Citigroup decreased their price target on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Finally, Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $346.34.

Salesforce Trading Up 1.1%

Shares of Salesforce stock opened at $264.56 on Wednesday. The stock has a market capitalization of $252.92 billion, a P/E ratio of 43.51, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $266.65 and its 200 day simple moving average is $303.58.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 earnings per share. As a group, research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.64%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 25.98%.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 1,256 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at approximately $3,248,954.06. This represents a 8.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was 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 owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,332 shares of company stock worth $11,024,802 in the last quarter. 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.