Riverview Trust Co Buys 103 Shares of Salesforce, Inc. (NYSE:CRM)

Riverview Trust Co grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 769 shares of the CRM provider’s stock after acquiring an additional 103 shares during the period. Riverview Trust Co’s holdings in Salesforce were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. XN LP raised its stake in shares of Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after acquiring an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after buying an additional 2,589 shares during the period. M&G Plc purchased a new position in Salesforce during the first quarter valued at approximately $2,178,000. First Foundation Advisors increased its holdings in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after buying an additional 228 shares during the period. Finally, St. Johns Investment Management Company LLC increased its holdings in Salesforce by 4.1% during the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after buying an additional 228 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,612 shares of company stock valued at $21,429,961. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. JMP Securities reissued a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Raymond James lifted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group lifted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 price target on shares of Salesforce in a report on Thursday, September 19th. Finally, Oppenheimer lifted their price target on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $311.66.

Salesforce Price Performance

NYSE:CRM opened at $293.07 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock’s 50-day moving average price is $266.65 and its 200-day moving average price is $263.77. The stock has a market capitalization of $283.98 billion, a PE ratio of 52.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company earned $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

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.