Salesforce, Inc. (NYSE:CRM) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division reduced its position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,854 shares of the CRM provider’s stock after selling 319 shares during the period. Moody National Bank Trust Division’s holdings in Salesforce were worth $2,367,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Salesforce by 1.4% during the third quarter. Vanguard Group Inc. now owns 80,449,523 shares of the CRM provider’s stock worth $11,571,860,000 after purchasing an additional 1,103,556 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Salesforce by 40.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 46,707,038 shares of the CRM provider’s stock worth $7,708,529,000 after purchasing an additional 13,483,854 shares in the last quarter. State Street Corp lifted its position in shares of Salesforce by 1.3% during the third quarter. State Street Corp now owns 44,825,733 shares of the CRM provider’s stock worth $6,447,733,000 after purchasing an additional 585,881 shares in the last quarter. Jennison Associates LLC raised its holdings in Salesforce by 1.6% in the third quarter. Jennison Associates LLC now owns 13,688,506 shares of the CRM provider’s stock valued at $1,968,955,000 after acquiring an additional 210,376 shares in the last quarter. Finally, Polen Capital Management LLC raised its holdings in Salesforce by 12.5% in the third quarter. Polen Capital Management LLC now owns 11,057,687 shares of the CRM provider’s stock valued at $1,590,538,000 after acquiring an additional 1,228,763 shares in the last quarter. 75.83% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM traded down $2.45 on Friday, reaching $184.85. The company had a trading volume of 10,493,254 shares, compared to its average volume of 9,626,618. The company has a fifty day moving average of $166.43 and a 200-day moving average of $153.85. The company has a market capitalization of $184.85 billion, a P/E ratio of 880.28, a PEG ratio of 2.24 and a beta of 1.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Salesforce, Inc. has a one year low of $126.34 and a one year high of $222.15.

Salesforce (NYSE:CRM – Get Rating) last announced its earnings results on Wednesday, March 1st. The CRM provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.32. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $7.99 billion. Salesforce had a net margin of 0.66% and a return on equity of 4.48%. Salesforce’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. As a group, equities research analysts anticipate that Salesforce, Inc. will post 4.88 earnings per share for the current year.

Salesforce announced that its board has approved a share repurchase plan on Wednesday, March 1st that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the CRM provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $118,780.20. Following the completion of the sale, the chief financial officer now directly owns 32,807 shares of the company’s stock, valued at approximately $4,217,339.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Brent Hyder sold 292 shares of the company’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $128.55, for a total value of $37,536.60. Following the completion of the sale, the insider now directly owns 6,305 shares of the company’s stock, valued at approximately $810,507.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 924 shares of the company’s stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $128.55, for a total transaction of $118,780.20. Following the completion of the sale, the chief financial officer now directly owns 32,807 shares of the company’s stock, valued at $4,217,339.85. The disclosure for this sale can be found here. In the last three months, insiders sold 39,268 shares of company stock valued at $6,641,547. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Macquarie upped their price target on shares of Salesforce from $218.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, March 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Salesforce from $190.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. Piper Sandler upped their price target on shares of Salesforce from $171.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Loop Capital upped their price target on shares of Salesforce from $150.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, March 2nd. Finally, Needham & Company LLC raised shares of Salesforce from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.24.

Salesforce Profile

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Salesforce, Inc engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform.