Salesforce, Inc. (NYSE:CRM) Shares Sold by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,912 shares of the CRM provider’s stock after selling 747 shares during the period. Community Bank & Trust Waco Texas’ holdings in Salesforce were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC increased its position in Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares during the period. International Assets Investment Management LLC boosted its stake in Salesforce by 23,653.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after purchasing an additional 1,400,300 shares in the last quarter. Lone Pine Capital LLC raised its holdings in shares of Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after acquiring an additional 804,634 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Salesforce by 330.0% in the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock worth $189,779,000 after purchasing an additional 718,245 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in Salesforce in the 3rd quarter worth approximately $114,521,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM traded down $1.87 on Wednesday, reaching $274.81. The company’s stock had a trading volume of 1,378,660 shares, compared to its average volume of 5,663,928. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $266.57 billion, a P/E ratio of 66.03, a PEG ratio of 2.11 and a beta of 1.28. The stock’s 50 day simple moving average is $296.91 and its two-hundred day simple moving average is $263.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal 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 issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the sale, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold a total of 616,589 shares of company stock valued at $181,071,306 in the last three months. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CRM shares. Wedbush boosted their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Argus boosted their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $360.00 price target (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine 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 stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.