Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Spinnaker Trust

Spinnaker Trust increased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,722 shares of the CRM provider’s stock after acquiring an additional 41 shares during the period. Spinnaker Trust’s holdings in Salesforce were worth $8,265,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRM. Arlington Trust Co LLC raised its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce during the fourth quarter worth $31,000. Collier Financial acquired a new stake in shares of Salesforce in the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter valued at about $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.3 %

Shares of NYSE:CRM opened at $325.49 on Friday. The company’s fifty day moving average is $337.29 and its 200-day moving average is $302.33. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $311.49 billion, a PE ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and issued a $415.00 price objective (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Northland Securities reiterated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Truist Financial restated 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by corporate 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.