Salesforce, Inc. (NYSE:CRM) Shares Sold by Trust Co of Kansas

Trust Co of Kansas lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,345 shares of the CRM provider’s stock after selling 445 shares during the period. Salesforce accounts for approximately 3.4% of Trust Co of Kansas’ holdings, making the stock its 12th biggest position. Trust Co of Kansas’ holdings in Salesforce were worth $7,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp grew its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC grew its stake in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares during the last quarter. Legal & General Group Plc lifted its stake in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRM shares. Stifel Nicolaus increased their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. BMO Capital Markets raised their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research report on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $324.77 on Friday. The stock’s fifty day simple moving average is $337.25 and its 200-day simple moving average is $291.08. The company has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a P/E/G ratio of 2.87 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. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 quarter in the prior year, the company earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. 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.