Triavera Capital LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Triavera Capital LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,573 shares of the CRM provider’s stock, valued at approximately $7,547,000. Salesforce makes up approximately 4.1% of Triavera Capital LLC’s portfolio, making the stock its 15th biggest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,527 shares of company stock worth $14,882,976. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of Salesforce stock opened at $291.00 on Friday. The stock has a market cap of $279.76 billion, a price-to-earnings ratio of 47.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $268.10 and a 200-day moving average price of $307.10. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus dropped their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Mizuho dropped their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research report on Thursday. Jefferies Financial Group dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. Finally, Scotiabank dropped their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $352.62.

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.