Arbor Trust Wealth Advisors LLC Purchases 55 Shares of Salesforce, Inc. (NYSE:CRM)

Arbor Trust Wealth Advisors LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,542 shares of the CRM provider’s stock after buying an additional 55 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Salesforce were worth $1,682,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Spartan Planning & Wealth Management grew its stake in Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares during the period. Parnassus Investments LLC grew its position in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares during the period. TD Asset Management Inc increased its holdings in Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after buying an additional 194,224 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Salesforce by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares during the period. Finally, M&G Plc purchased a new position in Salesforce in the first quarter valued at about $2,178,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Macquarie decreased their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Piper Sandler upped their price target on Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Robert W. Baird lifted their price objective on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets upped their price objective on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $304.41.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,912,044.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $30,912,044.90. The disclosure for this sale can be found here. Insiders sold 95,164 shares of company stock worth $23,760,225 in the last quarter. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM stock opened at $247.70 on Thursday. The firm has a 50 day simple moving average of $254.92 and a two-hundred day simple moving average of $270.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.11. The stock has a market cap of $240.02 billion, a PE ratio of 44.55, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. Salesforce’s dividend payout ratio is 28.78%.

About Salesforce

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.