Salesforce, Inc. (NYSE:CRM) Shares Acquired by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. boosted its position in Salesforce, Inc. (NYSE:CRM) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,826 shares of the CRM provider’s stock after acquiring an additional 763 shares during the quarter. Salesforce accounts for 1.4% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 19th biggest position. Sanibel Captiva Trust Company Inc.’s holdings in Salesforce were worth $42,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Veritas Asset Management LLP acquired a new position in Salesforce during the 3rd quarter worth approximately $733,805,000. KBC Group NV raised its stake in shares of Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the period. International Assets Investment Management LLC lifted its position in shares of Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Farallon Capital Management LLC boosted its stake in shares of Salesforce by 51.0% in the second quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after purchasing an additional 994,670 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Salesforce by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after purchasing an additional 877,495 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,183,838 shares of company stock valued at $405,595,158. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Robert W. Baird lifted their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group upped their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Up 1.5 %

Shares of NYSE CRM opened at $324.77 on Friday. The business has a 50 day simple moving average of $337.25 and a 200 day simple moving average of $291.08. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business 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 firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. On average, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.