Salesforce, Inc. (NYSE:CRM) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,753 shares of the CRM provider’s stock after selling 261 shares during the period. Salesforce comprises approximately 2.0% of Plimoth Trust Co. LLC’s holdings, making the stock its 8th biggest holding. Plimoth Trust Co. LLC’s holdings in Salesforce were worth $7,607,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. grew its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC grew its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at about $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM traded down $7.10 during midday trading on Wednesday, hitting $352.86. 1,500,940 shares of the company traded hands, compared to its average volume of 5,966,887. The stock has a 50-day moving average of $337.96 and a 200-day moving average of $296.02. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $337.68 billion, a P/E ratio of 58.25, a PEG ratio of 3.01 and a beta of 1.30. 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 (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.45%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,109,169 shares of company stock valued at $383,432,020 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRM shares. Canaccord Genuity Group upped their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Robert W. Baird upped their target price on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus increased their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment 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 company. Based on data from MarketBeat, the company presently 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.