Bremer Bank National Association Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Bremer Bank National Association increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,314 shares of the CRM provider’s stock after buying an additional 141 shares during the quarter. Bremer Bank National Association’s holdings in Salesforce were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Capital World Investors increased its holdings in Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC raised its position in Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after buying an additional 752,566 shares during the last quarter. Capital Research Global Investors lifted its position in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. Finally, Capital International Investors grew its position in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 0.3 %

Salesforce stock traded up $0.69 during trading on Wednesday, hitting $255.29. The company had a trading volume of 4,145,076 shares, compared to its average volume of 6,643,934. The stock has a market cap of $247.38 billion, a price-to-earnings ratio of 46.09, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company’s 50 day simple moving average is $248.27 and its 200-day simple moving average is $273.40.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the company posted $1.15 EPS. Salesforce’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were issued 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 (DPR) is presently 28.78%.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 202,136 shares of company stock worth $52,228,109 in the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRM. Oppenheimer dropped their price objective on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Macquarie cut their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Canaccord Genuity Group reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. UBS Group dropped their price target on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, Truist Financial restated a “buy” rating and set a $300.00 price objective (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.