Moody National Bank Trust Division Cuts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Moody National Bank Trust Division cut its position in Salesforce, Inc. (NYSE:CRM) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,191 shares of the CRM provider’s stock after selling 166 shares during the period. Moody National Bank Trust Division’s holdings in Salesforce were worth $3,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CRM. GHP Investment Advisors Inc. raised its stake in Salesforce by 38.3% during the second quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 57 shares during the period. Wealthspire Advisors LLC grew its stake in Salesforce by 1.9% during 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. grew its holdings in Salesforce by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,706,289 shares of the CRM provider’s stock worth $438,687,000 after acquiring an additional 112,690 shares in the last quarter. Prosperity Consulting Group LLC grew its stake in shares of Salesforce by 12.0% during the second 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 increased its holdings in shares of Salesforce by 6.8% in 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 last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,353,653.18. The trade was a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 6,161 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at $280,767.75. The trade was a 86.41 % 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. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.1 %

NYSE:CRM traded up $0.23 on Monday, reaching $318.08. The stock had a trading volume of 1,991,374 shares, compared to its average volume of 4,505,979. 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 12-month low of $212.00 and a 12-month high of $369.00. The company has a 50-day moving average of $335.82 and a 200 day moving average of $289.73. The stock has a market cap of $304.40 billion, a P/E ratio of 52.32, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.