Salesforce, Inc. (NYSE:CRM) Shares Sold by WoodTrust Financial Corp

WoodTrust Financial Corp lowered its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 57,973 shares of the CRM provider’s stock after selling 895 shares during the quarter. Salesforce accounts for approximately 2.6% of WoodTrust Financial Corp’s portfolio, making the stock its 12th biggest position. WoodTrust Financial Corp’s holdings in Salesforce were worth $15,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Salesforce by 0.3% in the second quarter. State Street Corp now owns 45,653,307 shares of the CRM provider’s stock worth $9,644,718,000 after purchasing an additional 143,962 shares during the period. Morgan Stanley boosted its holdings in Salesforce by 0.8% in the fourth quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock worth $2,519,719,000 after purchasing an additional 149,012 shares during the period. Northern Trust Corp lifted its stake in Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after buying an additional 121,436 shares during the last quarter. Norges Bank bought a new stake in Salesforce in the fourth quarter valued at $1,420,381,000. Finally, Moneta Group Investment Advisors LLC lifted its stake in Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after buying an additional 10,252,257 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Insiders have sold a total of 913,175 shares of company stock valued at $261,391,996 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.7 %

CRM traded up $2.00 during trading on Wednesday, reaching $306.00. The company had a trading volume of 1,374,959 shares, compared to its average volume of 5,634,988. The firm’s 50-day simple moving average is $296.10 and its 200 day simple moving average is $254.65. The company has a market cap of $296.82 billion, a price-to-earnings ratio of 73.06, a PEG ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRM shares. Royal Bank of Canada raised their target price on Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. BMO Capital Markets raised their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Robert W. Baird raised their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Wedbush raised their target price on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $285.00 target price on shares of Salesforce in a research note on Wednesday, February 28th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.97.

Check Out Our Latest Stock Report on Salesforce

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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