623 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust acquired a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 623 shares of the CRM provider’s stock, valued at approximately $208,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter valued at $31,000. Collier Financial purchased a new stake in Salesforce during the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.5 %

CRM opened at $324.19 on Thursday. The firm has a market cap of $310.25 billion, a P/E ratio of 53.32, a P/E/G ratio of 2.62 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $335.02 and a 200 day moving average of $304.66.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Insiders sold a total of 1,117,641 shares of company stock valued at $386,408,308 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRM shares. Loop Capital decreased their target price on shares of Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a research note on Wednesday. Canaccord Genuity Group boosted their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reiterated an “outperform” rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $376.84.

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.