VeraBank N.A. Has $1.97 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

VeraBank N.A. lowered its stake in Salesforce, Inc. (NYSE:CRM) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,203 shares of the CRM provider’s stock after selling 61 shares during the period. VeraBank N.A.’s holdings in Salesforce were worth $1,972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after buying an additional 1,008,841 shares during the period. Capital Research Global Investors grew its holdings in shares of Salesforce by 26.9% in 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 acquiring an additional 3,044,611 shares in the last quarter. Capital International Investors increased its position in shares of Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Legal & General Group Plc grew its position in shares of Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM traded up $11.17 during midday trading on Friday, reaching $321.95. 8,484,970 shares of the company’s stock were exchanged, compared to its average volume of 3,715,824. The business’s 50-day moving average price is $277.76 and its 200 day moving average price is $264.43. The stock has a market capitalization of $307.78 billion, a PE ratio of 55.99, a P/E/G ratio of 2.78 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $208.84 and a 1-year high of $322.81.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRM shares. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. DA Davidson lifted their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Buying and Selling

In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 148,573 shares of company stock valued at $42,319,874 in the last quarter. Company insiders own 3.20% of the company’s stock.

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.