Salesforce, Inc. (NYSE:CRM) Shares Sold by Intrust Bank NA

Intrust Bank NA decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,417 shares of the CRM provider’s stock after selling 143 shares during the quarter. Intrust Bank NA’s holdings in Salesforce were worth $1,952,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Marks Group Wealth Management Inc raised its holdings in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after purchasing an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after purchasing an additional 105 shares during the period. Pure Financial Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $214,000. Lone Pine Capital LLC boosted its holdings in Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares in the last quarter. Finally, Vicus Capital grew its position in Salesforce by 153.2% during the third quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock worth $522,000 after buying an additional 1,558 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the transaction, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the sale, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The disclosure for this sale can be found here. Insiders sold 595,793 shares of company stock valued at $175,070,968 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of Salesforce stock traded up $1.45 on Monday, reaching $275.74. 3,577,112 shares of the company were exchanged, compared to its average volume of 5,637,127. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The firm has a market cap of $267.47 billion, a price-to-earnings ratio of 65.27, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50-day moving average is $295.97 and its two-hundred day moving average is $264.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company upped their target price on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Stifel Nicolaus restated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.