Dakota Community Bank & Trust NA Reduces Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Dakota Community Bank & Trust NA decreased its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 17.0% in the first quarter, Holdings Channel.com reports. The firm owned 463 shares of the CRM provider’s stock after selling 95 shares during the period. Dakota Community Bank & Trust NA’s holdings in Salesforce were worth $139,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First Community Trust NA boosted its holdings in shares of Salesforce by 1,590.9% in the 1st quarter. First Community Trust NA now owns 558 shares of the CRM provider’s stock worth $168,000 after purchasing an additional 525 shares during the period. Marcum Wealth LLC boosted its holdings in shares of Salesforce by 11.0% in the 1st quarter. Marcum Wealth LLC now owns 2,956 shares of the CRM provider’s stock worth $890,000 after purchasing an additional 294 shares during the period. Aprio Wealth Management LLC boosted its holdings in shares of Salesforce by 35.9% in the 1st quarter. Aprio Wealth Management LLC now owns 2,263 shares of the CRM provider’s stock worth $682,000 after purchasing an additional 598 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Salesforce by 30.2% in the 1st quarter. Park Avenue Securities LLC now owns 27,994 shares of the CRM provider’s stock worth $8,431,000 after purchasing an additional 6,492 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its holdings in shares of Salesforce by 24.7% in the 1st quarter. KMG Fiduciary Partners LLC now owns 21,936 shares of the CRM provider’s stock worth $6,607,000 after purchasing an additional 4,344 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM traded up $3.26 during trading hours on Friday, hitting $245.06. 15,928,785 shares of the stock were exchanged, compared to its average volume of 13,763,672. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market cap of $237.46 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The stock’s 50-day moving average price is $262.47 and its two-hundred day moving average price is $276.32.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Thursday, May 30th. Sanford C. Bernstein boosted their price objective on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a report on Thursday, May 30th. Raymond James restated a “strong-buy” rating and set a $325.00 price objective (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, UBS Group dropped their price objective on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Read Our Latest Analysis on CRM

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Salesforce news, COO Brian Millham sold 1,679 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $512,867.34. Following the sale, the chief operating officer now owns 1,663 shares of the company’s stock, valued at approximately $507,979.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 575,989 shares of company stock worth $160,340,775. 3.20% of the stock is owned by corporate insiders.

Salesforce Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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