Community Financial Services Group LLC Has $460,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Community Financial Services Group LLC decreased its stake in Salesforce, Inc. (NYSE:CRM) by 86.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375 shares of the CRM provider’s stock after selling 9,149 shares during the quarter. Community Financial Services Group LLC’s holdings in Salesforce were worth $460,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Foundations Investment Advisors LLC lifted its position in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce in the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC boosted its position in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd lifted its holdings in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $324.50 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market cap of $310.55 billion, a PE ratio of 53.37, a P/E/G ratio of 2.66 and a beta of 1.31. The company has a 50-day moving average price of $338.89 and a 200 day moving average price of $301.53.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Analyst Ratings Changes

CRM has been the topic of several research reports. Truist Financial restated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Company 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.