Bank of Jackson Hole Trust Takes $208,000 Position in Salesforce, Inc. (NYSE:CRM)

Bank of Jackson Hole Trust purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 623 shares of the CRM provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Veritas Asset Management LLP purchased a new position in Salesforce during the third quarter valued at approximately $733,805,000. Jennison Associates LLC increased its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the period. Swedbank AB increased its holdings in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after buying an additional 1,219,254 shares during the period. KBC Group NV increased its holdings in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after buying an additional 1,032,068 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,117,641 shares of company stock worth $386,408,308 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday. They issued a “buy” rating on the stock. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $376.84.

Salesforce Stock Down 1.5 %

CRM opened at $324.19 on Thursday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $335.02 and a 200 day moving average price of $304.66. The company has a market cap of $310.25 billion, a PE ratio of 53.32, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31.

Salesforce (NYSE:CRM) last released 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts expect that Salesforce, Inc. will post 7.46 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. Investors of record on Wednesday, December 18th were given 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 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Salesforce Company 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.