Salesforce, Inc. (NYSE:CRM) Shares Bought by Field & Main Bank

Field & Main Bank increased its stake in Salesforce, Inc. (NYSE:CRM) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,810 shares of the CRM provider’s stock after purchasing an additional 35 shares during the quarter. Field & Main Bank’s holdings in Salesforce were worth $2,611,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the second quarter valued at $33,000. Godsey & Gibb Inc. lifted its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its position in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Salesforce during the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRM. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Price Performance

Shares of NYSE CRM opened at $354.23 on Wednesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day simple moving average is $337.96 and its 200 day simple moving average is $296.02. The stock has a market cap of $339.00 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 3.01 and a beta of 1.30.

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 the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Transactions at Salesforce

In other news, 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 transaction 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 approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,169 shares of company stock worth $383,432,020 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.