Salesforce, Inc. (NYSE:CRM) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,353 shares of the CRM provider’s stock after selling 179 shares during the period. Salesforce makes up about 1.3% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 25th biggest position. UNIVEST FINANCIAL Corp’s holdings in Salesforce were worth $4,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Graypoint LLC boosted its holdings in shares of Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC lifted its holdings in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the last quarter. Prentice Wealth Management LLC lifted its holdings in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the last quarter. Finally, MV Capital Management Inc. increased its position in Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after buying an additional 39 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CRM. Truist Financial reiterated a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Robert W. Baird raised their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Jefferies Financial Group lifted their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Oppenheimer lifted their target price on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $287.50, for a total transaction of $2,875,000.00. Following the completion of the sale, the insider now owns 60,416 shares in the company, valued at $17,369,600. The disclosure for this sale can be found here. Insiders have sold a total of 619,993 shares of company stock worth $181,241,324 over the last three months. 3.70% of the stock is currently owned by insiders.

Salesforce Stock Up 0.6 %

CRM stock traded up $1.55 during trading on Tuesday, reaching $277.18. The stock had a trading volume of 3,216,809 shares, compared to its average volume of 5,524,087. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $293.74 and its two-hundred day moving average is $267.47. The company has a market capitalization of $268.31 billion, a price-to-earnings ratio of 66.27, a P/E/G ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

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.