Bank of Stockton Has $332,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Bank of Stockton trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,213 shares of the CRM provider’s stock after selling 238 shares during the period. Bank of Stockton’s holdings in Salesforce were worth $332,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Mediolanum International Funds Ltd raised its stake in shares of Salesforce by 9.9% in the 3rd quarter. Mediolanum International Funds Ltd now owns 263,740 shares of the CRM provider’s stock valued at $72,840,000 after purchasing an additional 23,710 shares during the period. Financial Management Network Inc. bought a new position in shares of Salesforce during the third quarter worth about $209,000. Burke & Herbert Bank & Trust Co. acquired a new stake in Salesforce in the 3rd quarter valued at approximately $205,000. Canal Capital Management LLC lifted its stake in Salesforce by 3.9% in the 3rd quarter. Canal Capital Management LLC now owns 13,568 shares of the CRM provider’s stock valued at $3,714,000 after acquiring an additional 505 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC grew its stake in shares of Salesforce by 19.2% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 1,275 shares of the CRM provider’s stock worth $349,000 after acquiring an additional 205 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,812 shares of company stock valued at $23,418,916 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of NYSE CRM traded up $5.84 during mid-day trading on Friday, hitting $292.60. 1,178,221 shares of the stock traded hands, compared to its average volume of 6,324,229. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm has a 50 day simple moving average of $269.18 and a two-hundred day simple moving average of $263.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $283.53 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Citigroup boosted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird increased their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Canaccord Genuity Group upped their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.51.

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.