FineMark National Bank & Trust Trims Holdings in Salesforce, Inc. (NYSE:CRM)

FineMark National Bank & Trust reduced its holdings in Salesforce, Inc. (NYSE:CRM ​​- Free Report) by 62.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,551 shares of the CRM provider’s stock after selling 4,223 shares during the period. FineMark National Bank & Trust’s holdings in Salesforce were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Norges Bank acquired a new stake in Salesforce in the fourth quarter valued at $2,762,331,000. Capital International Investors boosted its stake in Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares during the period. Capital Research Global Investors raised its stake in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. GQG Partners LLC purchased a new position in shares of Salesforce during the first quarter valued at $910,220,000. Finally, Swedbank AB acquired a new position in shares of Salesforce in the first quarter valued at $874,748,000. Hedge funds and other institutional investors own 80.43% of the company’s shares.

Salesforce Inventory Performance

NYSE CRM opened at $246.16 on Friday. The stock’s fifty day moving average is $254.78 and its two hundred day moving average is $270.11. The firm has a market cap of $238.53 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11, and a current ratio of 1.04. Salesforce, Inc. it has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM ​​- Get Your Free Report ) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.63. On average, research analysts anticipate that Salesforce, Inc. will post 7.52 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst upgrades and downgrades

Several equities analysts recently commented on the company. Raymond James boosted their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Oppenheimer boosted their price objective on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Loop Capital boosted their price objective on Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Finally, Mizuho decreased their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $304.41.

Check out our latest report on Salesforce

Internal Transactions at Salesforce

In related news, insider Parker Harris sold 3,528 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. In related news, insider Parker Harris sold 3,528 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $241.74, for a total value of $3,626,100.00. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $2,940,152,355.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,692 shares of company stock worth $21,006,957. 3.20% of shares are currently owned by company insiders.

Salesforce Company Profile

(Free report)

Salesforce, Inc. provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.

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