2,556 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,556 shares of the CRM provider’s stock, valued at approximately $673,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Walkner Condon Financial Advisors LLC raised its stake in Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares during the period. Pure Financial Advisors LLC bought a new position in Salesforce in the 4th quarter worth $214,000. Riversedge Advisors LLC raised its holdings in Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after acquiring an additional 420 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Salesforce in the third quarter valued at about $2,499,000. Finally, Lone Pine Capital LLC boosted its holdings in Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRM shares. Evercore ISI lifted their price target on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Wolfe Research restated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday. KeyCorp started coverage on Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. BMO Capital Markets boosted their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Monday. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $307.87.

Salesforce Stock Up 1.7 %

NYSE:CRM traded up $4.51 during midday trading on Wednesday, hitting $277.41. 7,624,347 shares of the company were exchanged, compared to its average volume of 4,686,930. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The company has a market capitalization of $269.09 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $298.35 and a 200 day simple moving average of $260.79.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Buying and Selling

In other news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction on Friday, January 19th. The stock was sold at an average price of $280.00, for a total transaction of $82,310,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 897,375 shares of company stock valued at $260,206,096. Corporate insiders own 3.70% of the company’s stock.

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.