Pinnacle Bancorp Inc. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Pinnacle Bancorp Inc. trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,767 shares of the CRM provider’s stock after selling 50 shares during the period. Pinnacle Bancorp Inc.’s holdings in Salesforce were worth $532,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Graypoint LLC grew its position in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after buying an additional 36 shares during the period. JFS Wealth Advisors LLC lifted its holdings in Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares during the period. Opes Wealth Management LLC lifted its holdings in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares during the period. Finally, Prentice Wealth Management LLC lifted its holdings in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the completion of the sale, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at $12,428,121.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 5,864 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at $12,428,121.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 547,387 shares of company stock valued at $151,174,635. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 1.7 %

Shares of CRM stock traded up $4.25 during trading hours on Friday, reaching $257.10. The company had a trading volume of 11,972,195 shares, compared to its average volume of 6,985,788. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day simple moving average of $259.79 and a 200-day simple moving average of $276.20. The company has a market cap of $249.13 billion, a price-to-earnings ratio of 46.24, a price-to-earnings-growth ratio of 2.13 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $1.15 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s payout ratio is 7.19%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James reaffirmed a “strong-buy” rating and set a $325.00 target price (down from $380.00) on shares of Salesforce in a report on Thursday, May 30th. UBS Group cut their target price on Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Canaccord Genuity Group cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Wells Fargo & Company cut their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Finally, Stifel Nicolaus cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

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.