7,410 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Kentucky Trust Co

Kentucky Trust Co acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,410 shares of the CRM provider’s stock, valued at approximately $2,477,000. Salesforce comprises approximately 1.5% of Kentucky Trust Co’s holdings, making the stock its 17th biggest holding.

Other large investors have also recently made changes to their positions in the company. RBA Wealth Management LLC boosted its position in shares of Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares in the last quarter. Fiduciary Alliance LLC raised its stake in Salesforce by 5.3% during the third quarter. Fiduciary Alliance LLC now owns 1,262 shares of the CRM provider’s stock valued at $345,000 after buying an additional 64 shares during the last quarter. CX Institutional raised its stake in Salesforce by 2.0% during the third quarter. CX Institutional now owns 5,637 shares of the CRM provider’s stock valued at $1,543,000 after buying an additional 110 shares during the last quarter. Creative Planning raised its stake in Salesforce by 8.0% during the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock valued at $63,978,000 after buying an additional 17,350 shares during the last quarter. Finally, Boomfish Wealth Group LLC raised its stake in Salesforce by 0.4% during the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock valued at $2,549,000 after buying an additional 38 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

NYSE:CRM opened at $324.50 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $310.55 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 2.66 and a beta of 1.31. The business has a 50 day simple moving average of $338.89 and a 200-day simple moving average of $301.53.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent research reports. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Morgan Stanley lifted their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.