Kathmere Capital Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Kathmere Capital Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 755 shares of the CRM provider’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Asio Capital LLC grew its holdings in shares of Salesforce by 4.3% during the first quarter. Asio Capital LLC now owns 16,731 shares of the CRM provider’s stock valued at $5,046,000 after buying an additional 691 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in Salesforce by 0.8% during the first quarter. Harbour Capital Advisors LLC now owns 18,035 shares of the CRM provider’s stock valued at $5,483,000 after purchasing an additional 151 shares during the last quarter. DeDora Capital Inc. boosted its position in Salesforce by 60.3% during the first quarter. DeDora Capital Inc. now owns 7,098 shares of the CRM provider’s stock valued at $2,138,000 after purchasing an additional 2,670 shares during the last quarter. AMF Tjanstepension AB boosted its position in Salesforce by 47.2% during the first quarter. AMF Tjanstepension AB now owns 302,981 shares of the CRM provider’s stock valued at $91,270,000 after purchasing an additional 97,093 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in Salesforce during the first quarter valued at $192,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, Director G Mason Morfit purchased 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares in the company, valued at $912,699,429.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, Director G Mason Morfit purchased 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares in the company, valued at $912,699,429.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 547,387 shares of company stock worth $151,174,635. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.7 %

CRM stock opened at $257.10 on Friday. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm has a market cap of $249.13 billion, a P/E ratio of 46.24, a P/E/G ratio of 2.22 and a beta of 1.25. The business’s 50 day moving average is $259.79 and its 200-day moving average is $276.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is currently 7.19%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRM. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Thursday, May 30th. DA Davidson reduced their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Wolfe Research reissued an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. BMO Capital Markets reduced their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Finally, Mizuho reduced their price target on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $292.79.

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.