Truist Financial Corp Purchases 26,160 Shares of Salesforce, Inc. (NYSE:CRM)

Truist Financial Corp increased its position in Salesforce, Inc. (NYSE:CRM) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,598 shares of the CRM provider’s stock after purchasing an additional 26,160 shares during the period. Truist Financial Corp’s holdings in Salesforce were worth $141,287,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CRM. RBA Wealth Management LLC lifted its stake in Salesforce by 3.7% during the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 574 shares in the last quarter. Creative Planning lifted its stake in Salesforce by 8.0% during the 3rd quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock valued at $63,978,000 after acquiring an additional 17,350 shares in the last quarter. Net Worth Advisory Group bought a new position in Salesforce during the 3rd quarter valued at $340,000. Embree Financial Group lifted its stake in Salesforce by 6.5% during the 3rd quarter. Embree Financial Group now owns 4,478 shares of the CRM provider’s stock valued at $1,226,000 after acquiring an additional 272 shares in the last quarter. Finally, AA Financial Advisors LLC lifted its stake in Salesforce by 8.0% during the 3rd quarter. AA Financial Advisors LLC now owns 6,265 shares of the CRM provider’s stock valued at $1,715,000 after acquiring an additional 466 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CRM. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 6th. DA Davidson lifted their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Scotiabank lifted their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. Finally, Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Down 1.3 %

CRM stock opened at $325.49 on Monday. 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’s 50 day moving average is $336.56 and its 200 day moving average is $303.42. The stock has a market cap of $311.49 billion, a price-to-earnings ratio of 53.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. 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 data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,111,420 shares of company stock worth $384,366,700. 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.