AMG National Trust Bank Trims Stake in Salesforce, Inc. (NYSE:CRM)

AMG National Trust Bank cut its stake in Salesforce, Inc. (NYSE:CRM) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,325 shares of the CRM provider’s stock after selling 344 shares during the period. AMG National Trust Bank’s holdings in Salesforce were worth $2,279,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRM. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC grew its position in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth about $33,000. Finally, Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a report on Thursday, October 24th. Bank of America upped their price target on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Finally, Jefferies Financial Group lifted their price target on Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Nine analysts have rated the stock with a hold rating, twenty-seven 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $325.36.

Insider Activity at Salesforce

In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This represents a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,173 shares of company stock valued at $40,146,206. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

NYSE:CRM opened at $322.25 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day simple moving average of $288.14 and a two-hundred day simple moving average of $266.96. The firm has a market capitalization of $308.07 billion, a PE ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.