First Financial Corp IN Sells 160 Shares of Salesforce, Inc. (NYSE:CRM)

First Financial Corp IN reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,572 shares of the CRM provider’s stock after selling 160 shares during the quarter. First Financial Corp IN’s holdings in Salesforce were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter valued at approximately $27,000. Godsey & Gibb Inc. boosted its stake in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the second quarter valued at $33,000. Annapolis Financial Services LLC raised its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Salesforce in the 4th quarter worth about $55,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Trading Up 0.5 %

Salesforce stock opened at $319.39 on Tuesday. The stock has a 50-day moving average price of $336.25 and a 200 day moving average price of $290.19. The company has a market capitalization of $305.66 billion, a price-to-earnings ratio of 52.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company earned $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s payout ratio is currently 26.32%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 in the last quarter. 3.20% of the stock is currently owned by company insiders.

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.