Salesforce Inc. $CRM Shares Sold by First American Bank

First American Bank lowered its position in Salesforce Inc. (NYSE:CRM) by 37.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,967 shares of the CRM provider’s stock after selling 5,451 shares during the quarter. First American Bank’s holdings in Salesforce were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC purchased a new position in shares of Salesforce in the 4th quarter worth about $25,000. Board of the Pension Protection Fund acquired a new stake in Salesforce during the 4th quarter worth approximately $26,000. Key Capital Management INC purchased a new position in Salesforce in the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new position in Salesforce in the fourth quarter valued at approximately $26,000. Finally, Legacy Bridge LLC acquired a new position in Salesforce during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Salesforce from $210.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, May 28th. Sanford C. Bernstein decreased their price target on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Roth Mkm reiterated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Thursday, May 28th. DA Davidson reduced their price objective on Salesforce from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. decreased their target price on Salesforce from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.61.

Salesforce Price Performance

CRM opened at $150.39 on Friday. The company has a fifty day simple moving average of $175.95 and a 200 day simple moving average of $201.50. The firm has a market cap of $123.17 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.95 and a beta of 1.16. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $276.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts expect that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. Salesforce’s dividend payout ratio is currently 20.37%.

Salesforce declared that its Board of Directors has initiated a share buyback plan on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.