Country Club Bank Has $1.32 Million Stake in Salesforce, Inc. (NYSE:CRM)

Country Club Bank trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,778 shares of the CRM provider’s stock after selling 264 shares during the period. Country Club Bank’s holdings in Salesforce were worth $1,322,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kathmere Capital Management LLC acquired a new position in Salesforce in the first quarter valued at approximately $227,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Salesforce by 60.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,932 shares of the CRM provider’s stock valued at $2,088,000 after buying an additional 2,599 shares during the period. Vicus Capital acquired a new position in Salesforce in the first quarter valued at approximately $556,000. Founders Financial Securities LLC lifted its holdings in Salesforce by 1.9% in the first quarter. Founders Financial Securities LLC now owns 3,257 shares of the CRM provider’s stock valued at $981,000 after buying an additional 60 shares during the period. Finally, Trilogy Capital Inc. acquired a new position in Salesforce in the first quarter valued at approximately $379,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 969 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The disclosure for this sale can be found here. Insiders sold a total of 87,781 shares of company stock valued at $23,696,593 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $290.46 on Friday. The firm has a 50-day moving average of $269.73 and a 200-day moving average of $263.05. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market cap of $281.46 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRM. Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial restated a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. UBS Group increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Finally, Morgan Stanley increased their target price on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.51.

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.