WoodTrust Financial Corp Sells 905 Shares of Salesforce, Inc. (NYSE:CRM)

WoodTrust Financial Corp lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 57,293 shares of the CRM provider’s stock after selling 905 shares during the period. Salesforce accounts for approximately 2.7% of WoodTrust Financial Corp’s portfolio, making the stock its 12th largest position. WoodTrust Financial Corp’s holdings in Salesforce were worth $19,154,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC raised its position in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock valued at $2,028,164,000 after purchasing an additional 153,500 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robin L. Washington acquired 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 over the last three months. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Down 2.0 %

Shares of CRM stock opened at $287.10 on Wednesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $326.96 and a 200-day moving average of $308.33. The firm has a market cap of $274.76 billion, a P/E ratio of 47.22, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 25.16%.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, DA Davidson cut their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.