Greenleaf Trust Sells 4,280 Shares of Salesforce, Inc. (NYSE:CRM)
Greenleaf Trust trimmed its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,165 shares of the CRM provider’s stock after selling 4,280 shares during the quarter. Salesforce makes up approximately 0.3% of Greenleaf Trust’s holdings, making the stock its 23rd biggest position. Greenleaf Trust’s holdings in Salesforce were worth $26,884,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC boosted its stake in Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after purchasing an additional 74 shares during the period. Roman Butler Fullerton & Co. boosted its position in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after acquiring an additional 105 shares during the last quarter. Pure Financial Advisors LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $214,000. Riversedge Advisors LLC boosted its position in shares of Salesforce by 21.7% during the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after acquiring an additional 420 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of Salesforce during the 3rd quarter valued at approximately $2,499,000. 80.43% of the stock is currently owned by institutional investors.
Salesforce Stock Down 0.5 %
Shares of Salesforce stock traded down $1.47 during trading on Friday, hitting $270.45. 4,906,818 shares of the stock traded hands, compared to its average volume of 5,698,991. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The stock’s fifty day simple moving average is $297.70 and its 200 day simple moving average is $260.97. The firm has a market cap of $262.34 billion, a P/E ratio of 64.37, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.
Insider Activity at Salesforce
In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the sale, the insider now directly owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The disclosure for this sale can be found here. Insiders have sold a total of 628,184 shares of company stock valued at $184,794,698 over the last quarter. 3.70% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. Piper Sandler reiterated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price target (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Nine equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.
Check Out Our Latest Stock Report on CRM
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Salesforce, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Salesforce wasn’t on the list.
While Salesforce currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for April 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
