First National Trust Co Sells 4,158 Shares of Salesforce, Inc. (NYSE:CRM)

First National Trust Co trimmed its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 13.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,973 shares of the CRM provider's stock after selling 4,158 shares during the period. First National Trust Co's holdings in Salesforce were worth $9,018,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRM. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new position in shares of Salesforce during the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter valued at approximately $31,000. Collier Financial bought a new position in shares of Salesforce during the 4th quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter valued at approximately $27,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

NYSE CRM opened at $270.94 on Friday. The company has a 50-day moving average price of $319.09 and a 200-day moving average price of $308.60. The firm has a market capitalization of $260.37 billion, a P/E ratio of 44.56, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Erste Group Bank raised shares of Salesforce from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. KeyCorp raised shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Wells Fargo & Company cut their price objective on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $365.62.

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Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $14,071,750. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company's stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,793 shares of company stock valued at $383,156,227. 3.20% of the stock is owned by corporate insiders.

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.

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