City State Bank Has $674,000 Holdings in Salesforce, Inc. (NYSE:CRM)

City State Bank boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,513 shares of the CRM provider’s stock after buying an additional 80 shares during the quarter. City State Bank’s holdings in Salesforce were worth $674,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. OMC Financial Services LTD boosted its stake in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Prossimo Advisors LLC boosted its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Mainstream Capital Management LLC boosted its stake in shares of Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after purchasing an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC boosted its stake in shares of Salesforce by 3.9% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock valued at $300,000 after purchasing an additional 34 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE:CRM opened at $274.48 on Friday. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The business’s fifty day moving average price is $266.57 and its two-hundred day moving average price is $302.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce’s dividend payout ratio is presently 25.98%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the sale, the insider now directly owns 9,323 shares in the company, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CRM shares. Piper Sandler lifted their price target on Salesforce from $315.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Sanford C. Bernstein lifted their price objective on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Finally, Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.34.

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.