Park Place Capital Corp Trims Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Park Place Capital Corp lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,578 shares of the CRM provider’s stock after selling 872 shares during the quarter. Park Place Capital Corp’s holdings in Salesforce were worth $2,199,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Gabelli Funds LLC grew its stake in shares of Salesforce by 11.9% during the second quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after purchasing an additional 255 shares in the last quarter. RDST Capital LLC increased its holdings in shares of Salesforce by 2.2% in the 2nd quarter. RDST Capital LLC now owns 97,770 shares of the CRM provider’s stock valued at $25,137,000 after acquiring an additional 2,140 shares during the last quarter. Resources Management Corp CT ADV raised its position in shares of Salesforce by 5.7% during the 2nd quarter. Resources Management Corp CT ADV now owns 5,942 shares of the CRM provider’s stock worth $1,528,000 after acquiring an additional 323 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Salesforce by 51.0% during the second quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after purchasing an additional 994,670 shares during the last quarter. Finally, Samlyn Capital LLC boosted its holdings in Salesforce by 67.1% in the second quarter. Samlyn Capital LLC now owns 505,580 shares of the CRM provider’s stock valued at $129,985,000 after purchasing an additional 202,965 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total transaction of $277,676.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,586,572.08. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,172,167 shares of company stock worth $402,223,235. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

NYSE CRM opened at $328.19 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market capitalization of $314.08 billion, a P/E ratio of 53.89, a P/E/G ratio of 2.93 and a beta of 1.30. The business’s 50-day simple moving average is $336.68 and its 200-day simple moving average is $292.92.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRM shares. BMO Capital Markets boosted their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America raised their price target on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.