VeraBank N.A. Sells 139 Shares of Salesforce, Inc. (NYSE:CRM)

VeraBank N.A. lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,965 shares of the CRM provider’s stock after selling 139 shares during the period. VeraBank N.A.’s holdings in Salesforce were worth $2,096,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRM. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the fourth quarter worth approximately $31,000. Pacifica Partners Inc. lifted its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock traded up $1.53 during trading on Friday, hitting $273.66. 4,041,636 shares of the company’s stock traded hands, compared to its average volume of 5,219,539. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week 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. The business has a fifty day simple moving average of $294.23 and a 200 day simple moving average of $266.17. The stock has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.16, a P/E/G ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating 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 business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business earned $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Salesforce, Inc. will post 7.45 EPS 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 issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a report on Friday, April 12th. Wedbush boosted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the sale, the chief executive officer now owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the transaction, the chief executive officer now directly owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 629,993 shares of company stock worth $184,255,474. 3.70% of the stock is currently owned by insiders.

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.