Thomasville National Bank Has $27.44 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Thomasville National Bank boosted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,231 shares of the CRM provider's stock after acquiring an additional 1,221 shares during the period. Salesforce accounts for 2.0% of Thomasville National Bank's investment portfolio, making the stock its 17th biggest holding. Thomasville National Bank's holdings in Salesforce were worth $27,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter valued at about $31,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $35,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRM shares. Piper Sandler upped their price objective on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Jefferies Financial Group lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Mizuho lowered their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Citigroup lowered their target price on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Finally, Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $346.34.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,111 shares of company stock valued at $9,299,283 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 2.0%

CRM stock traded up $5.23 during midday trading on Monday, reaching $263.63. The company's stock had a trading volume of 7,173,677 shares, compared to its average volume of 6,539,302. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00. The stock has a market cap of $252.03 billion, a PE ratio of 43.36, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business's 50-day simple moving average is $268.49 and its 200-day simple moving average is $299.25.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm 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 earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce's dividend payout ratio 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.