First Interstate Bank Sells 712 Shares of Salesforce, Inc. (NYSE:CRM)

First Interstate Bank reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,077 shares of the CRM provider’s stock after selling 712 shares during the quarter. First Interstate Bank’s holdings in Salesforce were worth $4,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Pacifica Partners Inc. lifted its holdings in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $34,000. GHP Investment Advisors Inc. lifted its holdings in Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares during the last quarter. Finally, Live Oak Investment Partners acquired a new stake in Salesforce during the 4th quarter worth approximately $36,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRM shares. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price objective (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Wedbush lifted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price objective (up from $325.00) on shares of Salesforce in a report on Friday. Finally, Robert W. Baird lifted their price objective on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $307.87.

Salesforce Trading Up 1.7 %

Shares of NYSE CRM traded up $4.51 during trading on Tuesday, reaching $277.41. The company had a trading volume of 7,609,935 shares, compared to its average volume of 5,727,201. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $298.52 and its 200-day moving average price is $260.26. The stock has a market cap of $269.09 billion, a P/E ratio of 66.40, a PEG ratio of 2.26 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares of the company’s stock, valued at approximately $3,823,539,948.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,928,721 shares of the company’s stock, valued at $3,823,539,948.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the sale, the insider now directly owns 60,976 shares of the company’s stock, valued at $17,323,891.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 897,375 shares of company stock valued at $260,206,096. 3.70% of the stock is owned by company insiders.

Salesforce Company 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.