Atlantic Union Bankshares Corp Has $7.29 Million Stake in Salesforce, Inc. (NYSE:CRM)

Atlantic Union Bankshares Corp lifted its stake in Salesforce, Inc. (NYSE:CRM) by 20.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,635 shares of the CRM provider’s stock after purchasing an additional 4,564 shares during the period. Atlantic Union Bankshares Corp’s holdings in Salesforce were worth $7,290,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CRM. Fisher Asset Management LLC raised its position in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares during the last quarter. Legal & General Group Plc lifted its position in 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 purchasing an additional 176,641 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after buying an additional 96,381 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Salesforce by 25.1% in the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after buying an additional 877,495 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 3.8 %

Shares of Salesforce stock opened at $330.01 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a market capitalization of $315.49 billion, a price-to-earnings ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. The business has a fifty day simple moving average of $300.85 and a two-hundred day simple moving average of $270.29. 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 (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold 144,510 shares of company stock valued at $42,475,538 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRM shares. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Oppenheimer restated an “outperform” rating and set a $385.00 target price (up from $330.00) on shares of Salesforce in a report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $341.89.

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.