Pinnacle Bancorp Inc. Has $580,000 Position in Salesforce, Inc. (NYSE:CRM)

Pinnacle Bancorp Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,735 shares of the CRM provider’s stock after selling 32 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Salesforce were worth $580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth $27,000. Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% during 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 bought a new stake in shares of Salesforce in the 2nd quarter valued at about $33,000. Annapolis Financial Services LLC increased its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Salesforce during the fourth quarter worth about $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,229,213.48. This represents a 3.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,617 shares of company stock worth $403,542,975. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CRM shares. BMO Capital Markets upped their target price on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Scotiabank upped their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Stock Performance

Shares of Salesforce stock opened at $321.01 on Thursday. The firm has a market capitalization of $307.21 billion, a P/E ratio of 52.80, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. 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 business’s fifty day simple moving average is $336.76 and its 200 day simple moving average is $290.66. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

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

Salesforce Announces Dividend

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

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.