Country Club Bank Has $1.28 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Country Club Bank increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,042 shares of the CRM provider’s stock after acquiring an additional 100 shares during the period. Country Club Bank’s holdings in Salesforce were worth $1,275,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRM. Carnegie Capital Asset Management LLC boosted its holdings in Salesforce by 63.4% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 3,438 shares of the CRM provider’s stock worth $905,000 after purchasing an additional 1,334 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in shares of Salesforce during the 4th quarter worth about $5,297,000. Bison Wealth LLC grew its holdings in shares of Salesforce by 3.8% in the 4th quarter. Bison Wealth LLC now owns 1,931 shares of the CRM provider’s stock valued at $508,000 after acquiring an additional 71 shares in the last quarter. Bourgeon Capital Management LLC increased its position in shares of Salesforce by 973.3% in the fourth quarter. Bourgeon Capital Management LLC now owns 322 shares of the CRM provider’s stock valued at $85,000 after acquiring an additional 292 shares during the last quarter. Finally, Capital Analysts LLC raised its holdings in Salesforce by 7.9% during the fourth quarter. Capital Analysts LLC now owns 14,001 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 1,026 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

NYSE:CRM traded up $7.47 during mid-day trading on Thursday, reaching $262.79. The stock had a trading volume of 5,116,417 shares, compared to its average volume of 6,634,208. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market capitalization of $254.64 billion, a PE ratio of 46.96, a P/E/G ratio of 2.22 and a beta of 1.29. The stock has a 50-day simple moving average of $248.65 and a two-hundred day simple moving average of $273.27.

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, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CRM shares. Raymond James restated a “strong-buy” rating and issued a $325.00 price target (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Piper Sandler reissued a “neutral” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Friday, July 12th. Mizuho dropped their target price on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and issued a $300.00 target price (down from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $286.20, for a total transaction of $4,293,000.00. Following the transaction, the chief executive officer now directly owns 12,527,327 shares of the company’s stock, valued at $3,585,320,987.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $286.20, for a total value of $4,293,000.00. Following the transaction, the chief executive officer now owns 12,527,327 shares in the company, valued at $3,585,320,987.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $285.20, for a total value of $1,197,840.00. Following the sale, the insider now owns 115,762 shares of the company’s stock, valued at approximately $33,015,322.40. The disclosure for this sale can be found here. Insiders have sold 202,136 shares of company stock worth $52,228,109 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.