Pallas Capital Advisors LLC Has $10.54 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Pallas Capital Advisors LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,285 shares of the CRM provider’s stock after purchasing an additional 3,497 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Salesforce were worth $10,542,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. OMC Financial Services LTD boosted its position in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Prossimo Advisors LLC raised its position in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Mainstream Capital Management LLC boosted its stake in Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after purchasing an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC grew its position in Salesforce by 3.9% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock valued at $300,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $274.48 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00. The company’s 50-day moving average price is $266.57 and its 200-day moving average price is $302.19. The company has a market cap of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. On average, equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce’s dividend payout ratio is presently 25.98%.

Insider Activity at Salesforce

In other news, 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 transaction of $1,762,784.29. Following the completion of the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,332 shares of company stock worth $11,024,802. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Jefferies Financial Group dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Oppenheimer reiterated an “outperform” rating and set a $370.00 target price (down from $380.00) on shares of Salesforce in a research note on Thursday, May 29th. Citigroup decreased their target price on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Northland Securities lowered their price objective on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a research report on Thursday, May 29th. Finally, Sanford C. Bernstein raised their target price on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.34.

Salesforce Company 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.