Tritonpoint Wealth LLC Sells 12,424 Shares of Salesforce Inc. $CRM

Tritonpoint Wealth LLC decreased its holdings in Salesforce Inc. (NYSE:CRM) by 89.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,507 shares of the CRM provider’s stock after selling 12,424 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Salesforce were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Marquette Asset Management LLC bought a new position in shares of Salesforce during the 3rd quarter valued at about $26,000. Board of the Pension Protection Fund bought a new stake in Salesforce during the fourth quarter worth approximately $26,000. Evolution Wealth Management Inc. purchased a new stake in Salesforce during the second quarter valued at approximately $27,000. Texas Capital Bancshares Inc TX bought a new stake in shares of Salesforce in the 3rd quarter valued at approximately $28,000. Finally, Dorato Capital Management purchased a new position in shares of Salesforce in the 4th quarter worth approximately $39,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.1%

NYSE CRM opened at $187.01 on Friday. The company’s 50-day moving average price is $194.55 and its 200-day moving average price is $228.76. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $172.61 billion, a PE ratio of 23.94, a PEG ratio of 1.36 and a beta of 1.29. Salesforce Inc. has a 12 month low of $174.57 and a 12 month high of $296.05.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $11.18 billion. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $2.78 EPS. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Equities research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce declared that its board has initiated a share buyback plan on Monday, March 16th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th will be paid a dividend of $0.44 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 9th. Salesforce’s payout ratio is presently 22.54%.

Insider Activity at Salesforce

In other Salesforce news, Director Neelie Kroes sold 3,893 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total value of $929,259.10. Following the completion of the sale, the director directly owned 7,299 shares in the company, valued at approximately $1,742,271.30. This represents a 34.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Blair Kirk purchased 2,570 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $194.62 per share, for a total transaction of $500,173.40. Following the purchase, the director owned 13,689 shares of the company’s stock, valued at approximately $2,664,153.18. This trade represents a 23.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CRM shares. BTIG Research reissued a “buy” rating and set a $255.00 target price on shares of Salesforce in a research report on Wednesday. TD Cowen dropped their price objective on shares of Salesforce from $325.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Mizuho cut their price objective on shares of Salesforce from $280.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. DA Davidson lowered their target price on shares of Salesforce from $235.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Finally, Arete Research upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.21.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.