TCG Advisory Services LLC Has $18.57 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

TCG Advisory Services LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1,442.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,577 shares of the CRM provider’s stock after buying an additional 66,001 shares during the period. Salesforce comprises approximately 1.3% of TCG Advisory Services LLC’s portfolio, making the stock its 14th largest position. TCG Advisory Services LLC’s holdings in Salesforce were worth $18,572,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Graypoint LLC grew its stake in Salesforce by 0.3% during the fourth 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 boosted its stake 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 worth $2,730,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC boosted its stake 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 worth $341,000 after purchasing an additional 37 shares during the period. Prentice Wealth Management LLC boosted its stake 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 worth $604,000 after purchasing an additional 38 shares during the period. Finally, MV Capital Management Inc. boosted its stake in shares of Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE:CRM traded up $1.53 during trading hours on Friday, reaching $273.66. 4,041,636 shares of the company were exchanged, compared to its average volume of 5,219,539. 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 stock’s 50-day moving average is $294.23 and its 200-day moving average is $266.17. The firm has a market cap of $264.90 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on CRM. Wedbush lifted their price target on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Robert W. Baird lifted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Bank of America lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a report on Thursday, March 7th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.82, for a total value of $4,287,300.00. Following the completion of the sale, the chief executive officer now directly owns 13,581,166 shares in the company, valued at $3,881,768,866.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.82, for a total value of $4,287,300.00. Following the completion of the sale, the chief executive officer now owns 13,581,166 shares of the company’s stock, valued at $3,881,768,866.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $270.93, for a total transaction of $1,137,906.00. Following the completion of the sale, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $31,363,398.66. The disclosure for this sale can be found here. Insiders sold 629,993 shares of company stock worth $184,255,474 over the last three months. Insiders own 3.70% of the company’s stock.

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.