CRM

TKG Advisors LLC Has $3.61 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

June 16, 2024

17 4 minutes read

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TKG Advisors LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,712 shares of the CRM provider’s stock after selling 95 shares during the period. Salesforce accounts for about 2.2% of TKG Advisors LLC’s portfolio, making the stock its 15th biggest holding. TKG Advisors LLC’s holdings in Salesforce were worth $3,608,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter valued at $31,000. Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth $34,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $299.60, for a total value of $1,258,320.00. Following the transaction, the insider now owns 104,904 shares in the company, valued at $31,429,238.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $299.60, for a total value of $1,258,320.00. Following the sale, the insider now directly owns 104,904 shares of the company’s stock, valued at approximately $31,429,238.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $299.59, for a total value of $4,493,850.00. Following the completion of the sale, the chief executive officer now directly owns 13,131,166 shares in the company, valued at $3,933,966,021.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 634,670 shares of company stock worth $178,310,008. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRM. Truist Financial restated a “buy” rating and set a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. KeyCorp began coverage on Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Evercore ISI reduced their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One equities research 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 issued a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $292.79.

View Our Latest Analysis on Salesforce

Salesforce Trading Up 1.3 %

NYSE CRM opened at $231.94 on Friday. The stock’s 50-day simple moving average is $268.79 and its two-hundred day simple moving average is $276.94. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $224.75 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 2.04 and a beta of 1.25.

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

Salesforce Profile

(Free Report)

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.