Legacy Private Trust Co. Has $1 Million Position in Salesforce, Inc. (NYSE:CRM)

Legacy Private Trust Co. reduced its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,730 shares of the CRM provider's stock after selling 1,183 shares during the period. Legacy Private Trust Co.'s holdings in Salesforce were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Athena Investment Management bought a new position in Salesforce during the fourth quarter worth about $236,000. Jag Capital Management LLC raised its holdings in Salesforce by 2,507.9% during the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after acquiring an additional 22,797 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Salesforce during the fourth quarter worth about $2,861,000. Atlantic Union Bankshares Corp raised its stake in Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after buying an additional 723 shares during the period. Finally, Dash Acquisitions Inc. raised its stake in Salesforce by 2.6% in the fourth quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock valued at $21,785,000 after buying an additional 1,525 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, 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 transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,332 shares of company stock valued at $11,024,802. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CRM shares. Northland Securities decreased their target price on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. BMO Capital Markets reduced their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. The Goldman Sachs Group increased their price target on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Bank of America reduced their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $404.00 target price (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Salesforce Stock Performance

CRM stock traded up $1.51 during trading on Tuesday, hitting $263.13. The company had a trading volume of 3,115,328 shares, compared to its average volume of 6,667,365. The firm has a market cap of $252.97 billion, a PE ratio of 43.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The firm has a 50-day moving average price of $266.92 and a 200-day moving average price of $303.86. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is 25.98%.

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.