Salesforce, Inc. (NYSE:CRM) Stake Boosted by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,143 shares of the CRM provider’s stock after acquiring an additional 496 shares during the period. Salesforce accounts for approximately 1.8% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 9th biggest position. Plimoth Trust Co. LLC’s holdings in Salesforce were worth $6,669,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Graypoint LLC grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares during the last quarter. Chase Investment Counsel Corp grew its stake in shares of Salesforce by 0.3% in the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC raised its stake in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the last quarter. Finally, Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit bought 428,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the acquisition, the director now owns 3,914,309 shares in the company, valued at approximately $912,699,429.53. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Salesforce news, Director G Mason Morfit bought 428,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was bought at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 5,864 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the transaction, the chief financial officer now owns 45,231 shares in the company, valued at approximately $12,428,121.87. The disclosure for this sale can be found here. Insiders sold 494,952 shares of company stock valued at $135,205,453 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.1 %

Shares of NYSE:CRM opened at $256.42 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $248.47 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 2.26 and a beta of 1.29. The stock’s 50-day moving average price is $259.43 and its two-hundred day moving average price is $276.46. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. On average, research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s payout ratio is currently 7.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRM. Wolfe Research restated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. KeyCorp started coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. Wells Fargo & Company lowered their price objective on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Jefferies Financial Group cut their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Evercore ISI decreased their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $292.79.

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.