Texas Bank & Trust Co Acquires Shares of 3,625 Salesforce, Inc. (NYSE:CRM)

Texas Bank & Trust Co acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,625 shares of the CRM provider's stock, valued at approximately $1,212,000.

A number of other large investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,306 shares of company stock worth $12,841,368 in the last quarter. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRM shares. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald started coverage on Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price for the company. Mizuho dropped their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $352.62.

Salesforce Stock Up 0.0%

Shares of CRM traded up $0.01 during trading hours on Tuesday, reaching $287.64. The stock had a trading volume of 4,026,816 shares, compared to its average volume of 6,889,261. The firm has a 50-day simple moving average of $268.15 and a 200 day simple moving average of $307.16. 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 company has a market capitalization of $276.53 billion, a price-to-earnings ratio of 47.31, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. Salesforce's payout ratio is presently 26.10%.

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.