Fulcrum Capital LLC Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Fulcrum Capital LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,438 shares of the CRM provider’s stock after selling 445 shares during the quarter. Fulcrum Capital LLC’s holdings in Salesforce were worth $394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares during the last quarter. Capital Research Global Investors increased its position in shares of Salesforce by 26.9% during the first 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. Capital International Investors increased its position in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Legal & General Group Plc increased its position in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $284.37 on Thursday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market cap of $275.55 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 2.61 and a beta of 1.30. The stock’s 50 day moving average price is $268.70 and its 200 day moving average price is $263.24. 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 announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,812 shares of company stock valued at $23,418,916. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRM. Truist Financial reaffirmed a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Oppenheimer lifted their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. BMO Capital Markets lifted their price target on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lifted their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.66.

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.