Pinnacle Bancorp Inc. Sells 32 Shares of Salesforce, Inc. (NYSE:CRM)

Pinnacle Bancorp Inc. lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,735 shares of the CRM provider’s stock after selling 32 shares during the period. Pinnacle Bancorp Inc.’s holdings in Salesforce were worth $580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter valued at about $27,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the second quarter valued at approximately $33,000. Annapolis Financial Services LLC boosted its holdings in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Salesforce during the fourth quarter worth $55,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,177,617 shares of company stock worth $403,542,975 over the last three months. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Bank of America upped their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital lifted their target price on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Stifel Nicolaus upped their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Down 0.8 %

NYSE CRM opened at $321.01 on Thursday. 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 cap of $307.21 billion, a price-to-earnings ratio of 52.80, a PEG ratio of 3.20 and a beta of 1.30. The company has a 50 day moving average of $336.76 and a 200-day moving average of $290.66. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. On average, equities research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

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.