689 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 689 shares of the CRM provider’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Marks Group Wealth Management Inc lifted its stake in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after purchasing an additional 257 shares during the period. Spartan Planning & Wealth Management grew its holdings in shares of Salesforce by 66.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Roman Butler Fullerton & Co. grew its holdings in shares of Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Salesforce by 32.6% in the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $275.01, for a total value of $4,125,150.00. Following the sale, the chief executive officer now owns 12,677,327 shares in the company, valued at approximately $3,486,391,698.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $275.01, for a total value of $4,125,150.00. Following the sale, the chief executive officer now owns 12,677,327 shares in the company, valued at approximately $3,486,391,698.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $285.20, for a total value of $1,197,840.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at approximately $33,015,322.40. The disclosure for this sale can be found here. Insiders have sold a total of 294,242 shares of company stock worth $78,057,091 over the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRM shares. UBS Group cut their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. DA Davidson lowered their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Raymond James restated a “strong-buy” rating and issued a $325.00 price target (down from $380.00) on shares of Salesforce in a research report on Thursday, May 30th. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Finally, Truist Financial reiterated a “buy” rating and set a $300.00 target price (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Stock Performance

NYSE CRM traded down $5.74 during trading hours on Thursday, reaching $253.06. The stock had a trading volume of 5,525,733 shares, compared to its average volume of 6,762,115. The stock has a fifty day moving average of $249.10 and a 200 day moving average of $275.10. The stock has a market cap of $245.22 billion, a P/E ratio of 45.51, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Salesforce 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.