Atlantic Union Bankshares Corp Raises Position in Salesforce, Inc. (NYSE:CRM)

Atlantic Union Bankshares Corp boosted its stake in Salesforce, Inc. (NYSE:CRM) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,358 shares of the CRM provider’s stock after buying an additional 723 shares during the period. Atlantic Union Bankshares Corp’s holdings in Salesforce were worth $9,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at approximately $31,000. Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at approximately $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRM shares. DA Davidson reduced their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Bank of America cut their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $282.74 on Friday. The company has a market capitalization of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm’s 50-day moving average is $323.68 and its 200 day moving average is $308.18. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Insider Activity at Salesforce

In related news, Director Robin L. Washington acquired 1,695 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now directly owns 43,445 shares in the company, valued at approximately $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce 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.