Trust Point Inc. Sells 336 Shares of Salesforce, Inc. (NYSE:CRM)

Trust Point Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,382 shares of the CRM provider’s stock after selling 336 shares during the quarter. Trust Point Inc.’s holdings in Salesforce were worth $2,134,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter worth approximately $27,000. Godsey & Gibb Inc. increased 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 acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC increased its stake in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $55,000. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Salesforce by 88.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after buying an additional 83 shares during the period. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research report on Monday, January 6th. Citigroup boosted their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their target price on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Price Performance

NYSE CRM opened at $339.28 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $338.67 and its 200 day moving average price is $297.99. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $324.69 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 3.09 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,104,699 shares of company stock valued at $382,108,847. Company insiders own 3.20% of the company’s stock.

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.