Salesforce, Inc. (NYSE:CRM) Shares Sold by Country Club Bank

Country Club Bank trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 3.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,615 shares of the CRM provider’s stock after selling 163 shares during the quarter. Country Club Bank’s holdings in Salesforce were worth $1,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the third quarter valued at about $27,000. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Salesforce in the 3rd quarter worth approximately $53,000. Finally, Friedenthal Financial purchased a new position in Salesforce during the 4th quarter worth approximately $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of Salesforce stock opened at $347.41 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day moving average price of $338.69 and a two-hundred day moving average price of $299.31. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market cap of $332.47 billion, a PE ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 EPS. Analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 in the last three months. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their target price for the company from $380.00 to $400.00 in a report on Friday, January 17th. Macquarie restated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Scotiabank upped their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $377.63.

About Salesforce

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.