Salesforce, Inc. (NYSE:CRM) Shares Bought by Trust Co of Kansas

Trust Co of Kansas lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,014 shares of the CRM provider’s stock after purchasing an additional 2,639 shares during the period. Salesforce comprises 3.1% of Trust Co of Kansas’ investment portfolio, making the stock its 16th biggest position. Trust Co of Kansas’ holdings in Salesforce were worth $5,530,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC raised its holdings in shares of Salesforce by 7.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 20,716 shares of the CRM provider’s stock valued at $5,451,000 after acquiring an additional 1,488 shares during the last quarter. Masso Torrence Wealth Management Inc. raised its stake in Salesforce by 21.3% in the 4th quarter. Masso Torrence Wealth Management Inc. now owns 3,152 shares of the CRM provider’s stock valued at $829,000 after purchasing an additional 553 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Salesforce by 2.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,950 shares of the CRM provider’s stock valued at $776,000 after purchasing an additional 64 shares in the last quarter. Marks Group Wealth Management Inc boosted its stake in Salesforce by 0.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after purchasing an additional 257 shares during the last quarter. Finally, National Wealth Management Group LLC grew its holdings in shares of Salesforce by 6.7% during the fourth quarter. National Wealth Management Group LLC now owns 2,406 shares of the CRM provider’s stock worth $633,000 after buying an additional 152 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $278.62, for a total value of $4,179,300.00. Following the sale, the chief executive officer now owns 13,701,166 shares of the company’s stock, valued at approximately $3,817,418,870.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $278.62, for a total transaction of $4,179,300.00. Following the transaction, the chief executive officer now owns 13,701,166 shares in the company, valued at approximately $3,817,418,870.92. The disclosure for this sale can be found here. Insiders have sold a total of 596,379 shares of company stock worth $175,587,970 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.9 %

Salesforce stock traded up $2.44 during mid-day trading on Tuesday, hitting $276.25. The company had a trading volume of 5,173,576 shares, compared to its average volume of 5,704,005. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The business has a fifty day moving average of $297.00 and a 200 day moving average of $262.79. The stock has a market cap of $267.96 billion, a price-to-earnings ratio of 65.07, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the business earned $1.01 EPS. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Robert W. Baird raised their target price on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Oppenheimer upped their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Finally, StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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.