Salesforce, Inc. (NYSE:CRM) Shares Sold by Park National Corp OH

Park National Corp OH reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,033 shares of the CRM provider’s stock after selling 19,817 shares during the period. Salesforce makes up approximately 1.2% of Park National Corp OH’s investment portfolio, making the stock its 24th biggest holding. Park National Corp OH’s holdings in Salesforce were worth $33,778,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth about $27,000. Clear Investment Research LLC boosted its position in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the 2nd quarter worth approximately $33,000. Finally, Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares of the company’s stock, valued at approximately $280,767.75. This represents a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,181,817 shares of company stock valued at $404,760,429 in the last quarter. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRM shares. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Citigroup lifted their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird upped their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Trading Down 1.7 %

Shares of CRM stock opened at $324.84 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s 50-day moving average price is $334.05 and its 200-day moving average price is $287.99. The stock has a market cap of $310.87 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

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.