Thomasville National Bank Sells 61 Shares of Salesforce, Inc. (NYSE:CRM)

Thomasville National Bank trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,010 shares of the CRM provider’s stock after selling 61 shares during the quarter. Salesforce accounts for about 2.4% of Thomasville National Bank’s holdings, making the stock its 13th largest position. Thomasville National Bank’s holdings in Salesforce were worth $33,771,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CRM. GHP Investment Advisors Inc. boosted its holdings in shares of Salesforce by 38.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 57 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Salesforce by 1.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 7,718 shares of the CRM provider’s stock worth $1,984,000 after purchasing an additional 145 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Salesforce by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,706,289 shares of the CRM provider’s stock worth $438,687,000 after purchasing an additional 112,690 shares in the last quarter. Prosperity Consulting Group LLC boosted its holdings in shares of Salesforce by 12.0% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,238 shares of the CRM provider’s stock worth $575,000 after purchasing an additional 239 shares in the last quarter. Finally, Lyell Wealth Management LP boosted its holdings in Salesforce by 6.8% during the 2nd quarter. Lyell Wealth Management LP now owns 64,280 shares of the CRM provider’s stock valued at $16,526,000 after acquiring an additional 4,110 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value 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 $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of NYSE:CRM traded up $0.01 during mid-day trading on Monday, reaching $317.86. The stock had a trading volume of 1,418,203 shares, compared to its average volume of 4,424,983. 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 company has a market cap of $304.19 billion, a P/E ratio of 52.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business’s 50 day moving average price is $335.82 and its 200 day moving average price is $289.73.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the company earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given 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 yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Ratings Changes

Several brokerages recently weighed in on CRM. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. BMO Capital Markets increased their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $376.05.

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.