Salesforce, Inc. (NYSE:CRM) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 85,748 shares of the CRM provider’s stock after selling 3,125 shares during the quarter. Cambridge Trust Co.’s holdings in Salesforce were worth $22,564,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC grew its holdings in Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares in the last quarter. Pure Financial Advisors LLC acquired a new position in Salesforce during the 4th quarter worth approximately $214,000. Riversedge Advisors LLC grew its holdings in Salesforce by 21.7% during the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after acquiring an additional 420 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Salesforce during the 3rd quarter worth approximately $2,499,000. Finally, Lone Pine Capital LLC grew its holdings in Salesforce by 47.5% during the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after acquiring an additional 804,634 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CRM. Wells Fargo & Company boosted their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Monday. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $290.00 to $350.00 in a report on Thursday, December 21st. Truist Financial restated a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Oppenheimer upped their target price on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $307.87.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 3,910 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the transaction, the insider now directly owns 19,463 shares of the company’s stock, valued at approximately $5,347,848.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Brian Millham sold 293,965 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 3,910 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the completion of the sale, the insider now directly owns 19,463 shares in the company, valued at $5,347,848.51. The disclosure for this sale can be found here. Insiders have sold a total of 907,149 shares of company stock valued at $262,952,448 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Salesforce stock traded down $5.32 during trading hours on Thursday, reaching $271.00. 3,635,901 shares of the stock were exchanged, compared to its average volume of 5,672,881. The stock has a market cap of $262.87 billion, a P/E ratio of 65.28, a P/E/G ratio of 2.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The firm’s 50 day moving average is $298.10 and its 200 day moving average is $260.89.

Salesforce (NYSE:CRM) last announced 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

About Salesforce

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.