FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Stake in Salesforce, Inc. (NYSE:CRM)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 42.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,927 shares of the CRM provider's stock after purchasing an additional 2,081 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Salesforce were worth $1,859,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Capital Advisors Ltd. LLC increased its stake in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC raised its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. Mainstream Capital Management LLC raised its holdings in shares of Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after acquiring an additional 33 shares in the last quarter. Citizens National Bank Trust Department raised its holdings in shares of Salesforce by 1.9% during the fourth quarter. Citizens National Bank Trust Department now owns 1,924 shares of the CRM provider's stock valued at $643,000 after acquiring an additional 35 shares in the last quarter. Finally, Delap Wealth Advisory LLC raised its holdings in shares of Salesforce by 2.7% during the fourth quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider's stock valued at $447,000 after acquiring an additional 35 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 3.2%

Salesforce stock opened at $258.25 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The stock has a market capitalization of $246.89 billion, a PE ratio of 42.48, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business's fifty day moving average is $268.09 and its 200 day moving average is $299.72.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same period last year, the firm posted $2.44 earnings per share. Salesforce's revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's payout ratio is 25.98%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 3,273 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now directly owns 125,146 shares of the company's stock, valued at approximately $35,614,048.68. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,111 shares of company stock valued at $9,299,283. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Bank of America decreased their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Barclays decreased their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Finally, Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Company 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.

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