First National Trust Co Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

First National Trust Co lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,925 shares of the CRM provider’s stock after selling 4,434 shares during the period. First National Trust Co’s holdings in Salesforce were worth $8,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CRM. Fisher Asset Management LLC lifted its position in shares of Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Northern Trust Corp raised its stake in Salesforce by 1.1% in the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after purchasing an additional 121,436 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Salesforce by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock valued at $1,064,978,000 after purchasing an additional 19,888 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Salesforce by 7.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock worth $948,676,000 after purchasing an additional 309,881 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the transaction, the insider now owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the sale, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The disclosure for this sale can be found here. Insiders sold 629,993 shares of company stock valued at $184,255,474 over the last three months. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Wedbush upped their price target on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Truist Financial restated a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, KeyCorp initiated coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Stock Up 0.6 %

Shares of CRM stock traded up $1.53 during trading hours on Friday, reaching $273.66. 4,041,636 shares of the stock were exchanged, compared to its average volume of 5,219,539. The business’s fifty day moving average is $294.23 and its two-hundred day moving average is $266.17. The firm has a market capitalization of $264.90 billion, a P/E ratio of 65.16, a P/E/G ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

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.