KRS Capital Management LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

KRS Capital Management LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,706 shares of the CRM provider’s stock after buying an additional 90 shares during the quarter. Salesforce makes up about 1.4% of KRS Capital Management LLC’s portfolio, making the stock its 12th biggest position. KRS Capital Management LLC’s holdings in Salesforce were worth $1,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Graypoint LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC lifted its holdings in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after acquiring an additional 38 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now owns 45,231 shares in the company, valued at approximately $12,428,121.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 5,864 shares of Salesforce stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the transaction, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at $12,428,121.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 547,387 shares of company stock worth $151,174,635. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Argus lifted their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Raymond James reaffirmed a “strong-buy” rating and set a $325.00 price target (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Wells Fargo & Company dropped their price target on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. TD Cowen dropped their price target on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Finally, Stifel Nicolaus dropped their target price on shares of Salesforce from $350.00 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 assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Stock Up 1.7 %

NYSE CRM opened at $257.10 on Friday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company’s 50 day simple moving average is $259.79 and its 200 day simple moving average is $276.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $249.13 billion, a P/E ratio of 46.24, a PEG ratio of 2.22 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS. Equities research analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given 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 (DPR) is presently 7.19%.

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.