Wealth Advisors of Tampa Bay LLC Has $4.72 Million Position in Salesforce, Inc. (NYSE:CRM)

Wealth Advisors of Tampa Bay LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,358 shares of the CRM provider’s stock after purchasing an additional 155 shares during the period. Salesforce accounts for 2.2% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 12th largest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Salesforce were worth $4,720,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CRM. Capital International Investors increased its position in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of 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 last quarter. GQG Partners LLC bought a new stake in Salesforce in the 1st quarter valued at $910,220,000. Swedbank AB acquired a new stake in Salesforce during the 1st quarter valued at $874,748,000. Finally, Coatue Management LLC bought a new position in Salesforce during the fourth quarter worth $564,188,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of Salesforce stock opened at $265.87 on Friday. The company’s 50 day moving average price is $253.90 and its two-hundred day moving average price is $267.00. The firm has a market capitalization of $257.63 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. 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 (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the business posted $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,223,020.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Salesforce news, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $406,612.96. Following the sale, the chief operating officer now owns 1,662 shares in the company, valued at approximately $402,735.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The disclosure for this sale can be found here. Insiders have sold a total of 66,576 shares of company stock worth $16,957,573 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRM shares. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Sanford C. Bernstein raised their price objective on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Macquarie dropped their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Nine equities research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $306.00.

Salesforce Company 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.