First Citizens Bank & Trust Co. Sells 1,197 Shares of Salesforce Inc. $CRM

First Citizens Bank & Trust Co. reduced its stake in Salesforce Inc. (NYSE:CRM) by 26.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,315 shares of the CRM provider’s stock after selling 1,197 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Salesforce were worth $904,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CRM. Nuveen LLC bought a new stake in Salesforce during the 1st quarter worth approximately $2,039,196,000. Longview Partners Guernsey LTD bought a new stake in Salesforce during the 1st quarter worth approximately $467,944,000. Pacer Advisors Inc. grew its position in Salesforce by 1,744.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider’s stock worth $488,486,000 after acquiring an additional 1,721,550 shares during the last quarter. Vanguard Group Inc. grew its position in Salesforce by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider’s stock worth $23,592,501,000 after acquiring an additional 1,383,942 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in Salesforce during the 1st quarter worth approximately $345,100,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 0.0%

Shares of CRM opened at $254.93 on Friday. The firm has a market capitalization of $242.69 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.14 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. The business’s fifty day moving average price is $246.53 and its two-hundred day moving average price is $258.07. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were paid a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce’s dividend payout ratio is 24.13%.

Analysts Set New Price Targets

CRM has been the topic of a number of research analyst reports. Macquarie restated a “neutral” rating and set a $250.00 price target on shares of Salesforce in a research report on Thursday, October 16th. Northland Capmk lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Roth Capital restated a “buy” rating and set a $395.00 price target on shares of Salesforce in a research report on Thursday, September 4th. Wells Fargo & Company decreased their price target on Salesforce from $275.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 4th. Finally, JMP Securities restated a “market outperform” rating and set a $430.00 price target on shares of Salesforce in a research report on Friday, October 17th. Twenty-five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $325.23.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $246.07, for a total value of $553,657.50. Following the transaction, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $2,931,080,275.97. This represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Blair Kirk purchased 3,400 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, the director owned 3,824 shares in the company, valued at $973,819.84. This trade represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 78,750 shares of company stock worth $19,424,880. 3.00% of the stock is currently owned by company insiders.

About Salesforce

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.