VeraBank N.A. Sells 651 Shares of Salesforce, Inc. (NYSE:CRM)

VeraBank N.A. reduced its holdings in Salesforce, Inc. (NYSE:CRMFree Report) by 8.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,314 shares of the CRM provider’s stock after selling 651 shares during the quarter. VeraBank N.A.’s holdings in Salesforce were worth $2,203,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce in the 4th quarter worth about $31,000. Pacifica Partners Inc. boosted its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Red Tortoise LLC acquired a new stake in Salesforce during the first quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM traded up $0.18 during trading hours on Wednesday, hitting $252.61. The company had a trading volume of 8,945,022 shares, compared to its average volume of 6,954,869. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $244.78 billion, a price-to-earnings ratio of 45.43, a PEG 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 firm has a 50 day simple moving average of $257.24 and a 200 day simple moving average of $276.07.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s payout ratio is 7.19%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 454,152 shares of company stock valued at $122,552,011 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRM. Sanford C. Bernstein increased their price target on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a research note on Friday, May 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Citigroup cut their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Finally, Wedbush decreased their price objective on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $292.79.

Get Our Latest Analysis on Salesforce

Salesforce Profile

(Free Report)

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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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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