Parkside Financial Bank & Trust Sells 165 Shares of Salesforce, Inc. (NYSE:CRM)

Parkside Financial Bank & Trust lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,865 shares of the CRM provider’s stock after selling 165 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Salesforce were worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter worth $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce in the fourth quarter worth $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRM shares. Truist Financial reissued a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets dropped their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research report on Thursday. Scotiabank dropped their price objective on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Guggenheim reissued a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

Salesforce Stock Performance

NYSE:CRM opened at $294.80 on Friday. 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 1 year low of $212.00 and a 1 year high of $369.00. The stock’s 50 day simple moving average is $330.03 and its two-hundred day simple moving average is $306.89. The company has a market cap of $282.12 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the firm earned $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

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.