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

Tritonpoint Wealth LLC lessened its position in Salesforce Inc. (NYSE:CRM) by 89.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Salesforce by 0.8% in the third quarter. Vanguard Group Inc. now owns 89,572,253 shares of the CRM provider’s stock worth $21,228,624,000 after purchasing an additional 748,772 shares in the last quarter. State Street Corp boosted its holdings in shares of Salesforce by 0.3% during the 3rd quarter. State Street Corp now owns 49,420,657 shares of the CRM provider’s stock valued at $11,732,966,000 after buying an additional 159,739 shares in the last quarter. Capital International Investors grew its position in shares of Salesforce by 9.4% in the 3rd quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock worth $4,753,519,000 after buying an additional 1,729,440 shares during the period. Capital World Investors grew its position in shares of Salesforce by 159.0% in the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock worth $4,106,255,000 after buying an additional 10,636,161 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Salesforce by 11.8% in the 3rd quarter. Invesco Ltd. now owns 7,155,512 shares of the CRM provider’s stock worth $1,695,856,000 after acquiring an additional 754,116 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 0.1%

NYSE:CRM opened at $187.01 on Friday. The stock has a market cap of $172.61 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.36 and a beta of 1.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $194.55 and its 200-day moving average price is $228.76. Salesforce Inc. has a 52 week low of $174.57 and a 52 week 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, topping 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 period in the previous year, the business earned $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. On average, equities research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

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

Salesforce Increases Dividend

The firm 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 $0.44 dividend. This is an increase 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 is Thursday, April 9th. Salesforce’s dividend payout ratio (DPR) is presently 22.54%.

Insider Activity

In other Salesforce news, Director Neelie Kroes sold 3,893 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total transaction of $929,259.10. Following the transaction, the director owned 7,299 shares in the company, valued at approximately $1,742,271.30. This represents a 34.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Alber purchased 2,571 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of $194.58 per share, for a total transaction of $500,265.18. Following the acquisition, the director owned 9,530 shares in the company, valued at approximately $1,854,347.40. The trade was a 36.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $281.00 price target on shares of Salesforce in a research report on Thursday, February 26th. Royal Bank Of Canada decreased their target price on shares of Salesforce from $290.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, February 26th. BMO Capital Markets lowered their target price on shares of Salesforce from $235.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. UBS Group dropped their price target on Salesforce from $260.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Finally, Jefferies Financial Group reduced their price objective on Salesforce from $375.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company 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.