Field & Main Bank Has $2.11 Million Stake in Salesforce, Inc. (NYSE:CRM)

Field & Main Bank boosted its position in Salesforce, Inc. (NYSE:CRM) by 2.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,022 shares of the CRM provider’s stock after purchasing an additional 225 shares during the quarter. Field & Main Bank’s holdings in Salesforce were worth $2,111,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Marks Group Wealth Management Inc boosted its position in Salesforce by 0.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after buying an additional 257 shares during the period. Roman Butler Fullerton & Co. increased its holdings in Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares during the period. Pure Financial Advisors LLC bought a new position in Salesforce during the 4th quarter worth $214,000. Lone Pine Capital LLC lifted 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 buying an additional 804,634 shares during the period. Finally, Vicus Capital increased its stake in shares of Salesforce by 153.2% in the third quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock valued at $522,000 after buying an additional 1,558 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Salesforce news, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders sold 610,793 shares of company stock valued at $179,197,018 in the last three months. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $1.57 during mid-day trading on Monday, hitting $275.86. 3,608,431 shares of the stock were exchanged, compared to its average volume of 5,637,167. The company has a market capitalization of $267.58 billion, a P/E ratio of 65.68, a P/E/G ratio of 2.11 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. The company has a 50-day simple moving average of $295.69 and a 200 day simple moving average of $265.20. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Jefferies Financial Group upped their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.61.

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.