Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Bank of Stockton

Bank of Stockton grew its position in Salesforce, Inc. (NYSE:CRM) by 12.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,369 shares of the CRM provider’s stock after buying an additional 156 shares during the period. Bank of Stockton’s holdings in Salesforce were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter worth approximately $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,833 shares of company stock worth $381,389,136. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM opened at $318.76 on Friday. The firm has a market cap of $305.06 billion, a price-to-earnings ratio of 52.43, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31. The company’s fifty day moving average is $334.23 and its 200-day moving average is $304.76. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

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. Equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $376.84.

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.