Atlantic Union Bankshares Corp Acquires 4,564 Shares of Salesforce, Inc. (NYSE:CRM)

Atlantic Union Bankshares Corp grew its holdings in Salesforce, Inc. (NYSE:CRM) by 20.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fisher Asset Management LLC boosted its position in Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Legal & General Group Plc increased its holdings in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Salesforce by 1.0% in the third 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 holdings in Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after buying an additional 96,381 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after purchasing an additional 877,495 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein raised 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. Evercore ISI restated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. JMP Securities boosted their price target on shares of Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Wedbush increased their price objective on shares of Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Robert W. Baird boosted their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $341.89.

Salesforce Price Performance

NYSE CRM opened at $330.01 on Friday. The company has a market cap of $315.49 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $300.85 and its two-hundred day simple moving average is $270.29. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86.

Salesforce (NYSE:CRM) last issued its 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. The business had revenue of $9.33 billion during 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 was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. Research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,464,622.79. The trade was a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,510 shares of company stock worth $42,475,538 over the last three months. 3.20% of the stock is owned by 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.