Salesforce, Inc. (NYSE:CRM) Position Reduced by Passumpsic Savings Bank

Passumpsic Savings Bank lessened its position in Salesforce, Inc. (NYSE:CRM) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,163 shares of the CRM provider’s stock after selling 169 shares during the period. Passumpsic Savings Bank’s holdings in Salesforce were worth $2,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Collier Financial acquired a new position in Salesforce in the fourth quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter worth approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Bank of America upped their target price on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $375.53.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of CRM opened at $309.54 on Friday. 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. The stock has a market cap of $296.23 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31. The stock’s 50-day moving average price is $333.34 and its two-hundred day moving average price is $305.25.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 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.