Farmers & Merchants Investments Inc. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Farmers & Merchants Investments Inc. trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,060 shares of the CRM provider’s stock after selling 50 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Salesforce were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. RBA Wealth Management LLC lifted its stake in shares of Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after buying an additional 574 shares during the period. Castle Rock Wealth Management LLC raised its holdings in Salesforce by 6.5% in the 3rd quarter. Castle Rock Wealth Management LLC now owns 2,458 shares of the CRM provider’s stock valued at $705,000 after acquiring an additional 150 shares in the last quarter. JGP Wealth Management LLC lifted its position in shares of Salesforce by 8.3% in the 3rd quarter. JGP Wealth Management LLC now owns 994 shares of the CRM provider’s stock worth $272,000 after acquiring an additional 76 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Salesforce by 71.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,121 shares of the CRM provider’s stock valued at $5,513,000 after purchasing an additional 8,385 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Salesforce by 2.2% in the third quarter. Valeo Financial Advisors LLC now owns 79,256 shares of the CRM provider’s stock valued at $21,693,000 after purchasing an additional 1,695 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $325.81 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $311.80 billion, a PE ratio of 53.59, a P/E/G ratio of 2.66 and a beta of 1.31. The firm has a 50-day moving average of $338.97 and a 200-day moving average of $300.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.