Missouri Trust & Investment Co Buys 913 Shares of Salesforce, Inc. (NYSE:CRM)

Missouri Trust & Investment Co boosted its holdings in Salesforce, Inc. (NYSE:CRMFree Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,922 shares of the CRM provider’s stock after acquiring an additional 913 shares during the quarter. Salesforce accounts for about 0.9% of Missouri Trust & Investment Co’s investment portfolio, making the stock its 16th largest position. Missouri Trust & Investment Co’s holdings in Salesforce were worth $2,348,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Level Four Advisory Services LLC raised its position in Salesforce by 2.0% during the 4th quarter. Level Four Advisory Services LLC now owns 33,635 shares of the CRM provider’s stock valued at $8,851,000 after purchasing an additional 663 shares during the last quarter. Mar Vista Investment Partners LLC raised its position in Salesforce by 18.4% during the 4th quarter. Mar Vista Investment Partners LLC now owns 301,241 shares of the CRM provider’s stock valued at $79,269,000 after purchasing an additional 46,835 shares during the last quarter. Dillon & Associates Inc. raised its position in Salesforce by 1.2% during the 4th quarter. Dillon & Associates Inc. now owns 24,421 shares of the CRM provider’s stock valued at $6,423,000 after purchasing an additional 287 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc raised its position in Salesforce by 8.5% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,143 shares of the CRM provider’s stock valued at $301,000 after purchasing an additional 90 shares during the last quarter. Finally, New Century Financial Group LLC bought a new position in Salesforce during the 4th quarter valued at approximately $819,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $287.50, for a total value of $2,875,000.00. Following the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,369,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $287.50, for a total value of $2,875,000.00. Following the completion of the transaction, the insider now directly owns 60,416 shares in the company, valued at $17,369,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 635,499 shares of company stock valued at $184,795,784. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.3 %

NYSE:CRM traded up $0.93 during trading hours on Friday, reaching $285.61. The company’s stock had a trading volume of 3,478,869 shares, compared to its average volume of 4,227,119. The company has a market capitalization of $276.47 billion, a P/E ratio of 68.00, a price-to-earnings-growth ratio of 2.20 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month 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 stock has a 50 day moving average price of $289.14 and a two-hundred day moving average price of $272.04.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Truist Financial reiterated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. UBS Group increased their target price on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Citigroup increased their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Nine 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.61.

Check Out Our Latest Analysis on Salesforce

Salesforce 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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