Salesforce, Inc. (NYSE:CRM) Shares Sold by First National Trust Co

First National Trust Co lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,925 shares of the CRM provider’s stock after selling 4,434 shares during the quarter. First National Trust Co’s holdings in Salesforce were worth $8,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Marks Group Wealth Management Inc grew its position in Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after acquiring an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. grew its holdings in Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares in the last quarter. Pure Financial Advisors LLC purchased a new stake in Salesforce during the 4th quarter worth $214,000. Lone Pine Capital LLC lifted its holdings in Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Salesforce by 0.8% in the 3rd quarter. Blair William & Co. IL now owns 821,761 shares of the CRM provider’s stock valued at $166,637,000 after buying an additional 6,888 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Piper Sandler restated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. Jefferies Financial Group increased their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Mizuho reissued a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Stock Performance

NYSE CRM traded up $1.53 on Friday, hitting $273.66. The stock had a trading volume of 4,041,636 shares, compared to its average volume of 5,219,539. The company’s 50-day moving average is $294.23 and its two-hundred day moving average is $266.17. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The stock has a market cap of $264.90 billion, a price-to-earnings ratio of 65.16, a P/E/G ratio of 2.10 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. On average, analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders sold 629,993 shares of company stock valued at $184,255,474 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

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.