First County Bank CT Sells 1,159 Shares of Salesforce, Inc. (NYSE:CRM)

First County Bank CT lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 19.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,867 shares of the CRM provider’s stock after selling 1,159 shares during the period. Salesforce accounts for about 0.9% of First County Bank CT’s holdings, making the stock its 27th biggest position. First County Bank CT’s holdings in Salesforce were worth $1,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter worth $27,000. Clear Investment Research LLC increased its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. grew its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Finally, Annapolis Financial Services LLC raised its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Salesforce stock traded down $6.26 during midday trading on Tuesday, reaching $324.27. 3,089,266 shares of the company traded hands, compared to its average volume of 4,419,898. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $310.33 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The business has a 50 day moving average of $333.53 and a two-hundred day moving average of $287.43.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Loop Capital raised their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. TD Cowen upped their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $375.39.

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.