Salesforce, Inc. (NYSE:CRM) Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,250 shares of the CRM provider’s stock after selling 110 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Salesforce were worth $6,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth $293,000. Hamilton Capital Partners LLC purchased a new stake in Salesforce in the 4th quarter worth $7,528,000. Lifeworks Advisors LLC increased its holdings in Salesforce by 26.8% in the 4th quarter. Lifeworks Advisors LLC now owns 1,055 shares of the CRM provider’s stock worth $353,000 after acquiring an additional 223 shares in the last quarter. HM Payson & Co. increased its holdings in Salesforce by 12.8% in the 4th quarter. HM Payson & Co. now owns 4,638 shares of the CRM provider’s stock worth $1,551,000 after acquiring an additional 526 shares in the last quarter. Finally, Arjuna Capital purchased a new stake in Salesforce in the 4th quarter worth $1,570,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.2 %

CRM stock opened at $282.74 on Friday. The company’s 50 day moving average price is $323.68 and its 200 day moving average price is $308.18. 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last released its 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). 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 in the previous year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Piper Sandler cut their price target on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Barclays upped their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada upped their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $365.62.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Company 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.