CNB Bank Has $398,000 Position in Salesforce, Inc. (NYSE:CRM)

CNB Bank reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,511 shares of the CRM provider’s stock after selling 49 shares during the period. CNB Bank’s holdings in Salesforce were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Salesforce in the 4th quarter valued at $1,420,381,000. Moneta Group Investment Advisors LLC raised its holdings in Salesforce by 125,717.4% in the 4th 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 acquiring an additional 10,252,257 shares in the last quarter. Cerity Partners LLC raised its holdings in Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares in the last quarter. Starboard Value LP acquired a new position in Salesforce in the 4th quarter valued at $401,215,000. Finally, Barclays PLC raised its holdings in Salesforce by 99.7% in the 2nd quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock valued at $675,370,000 after acquiring an additional 1,595,733 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the transaction, the chief financial officer now directly owns 38,993 shares of the company’s stock, valued at $11,074,012. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The disclosure for this sale can be found here. Insiders sold a total of 628,184 shares of company stock valued at $184,794,698 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Argus lifted their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Mizuho reiterated a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Finally, Oppenheimer boosted their price objective on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Nine investment 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Stock Down 0.6 %

CRM traded down $1.55 during midday trading on Friday, reaching $270.37. 4,913,553 shares of the company were exchanged, compared to its average volume of 4,856,009. 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 fifty day moving average price is $297.28 and its 200 day moving average price is $261.43. The company has a market cap of $262.26 billion, a price-to-earnings ratio of 64.39, a price-to-earnings-growth ratio of 2.09 and a beta of 1.28. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

Salesforce Company 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.