Salesforce Inc. $CRM Holdings Increased by Keybank National Association OH

Keybank National Association OH increased its stake in Salesforce Inc. (NYSE:CRM) by 24.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,676 shares of the CRM provider’s stock after acquiring an additional 6,662 shares during the period. Keybank National Association OH’s holdings in Salesforce were worth $7,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Salesforce during the 2nd quarter worth about $11,396,844,000. Arrowstreet Capital Limited Partnership raised its position in Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after purchasing an additional 7,160,302 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Salesforce in the 2nd quarter valued at about $1,914,086,000. Legal & General Group Plc purchased a new position in shares of Salesforce in the 2nd quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Salesforce in the 2nd quarter valued at about $844,928,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David Blair Kirk purchased 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The shares were bought at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the purchase, the director directly owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. This trade represents a 28.66% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the sale, the director directly owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Salesforce Stock Down 0.3%

Shares of NYSE CRM opened at $217.38 on Friday. The business has a 50-day moving average of $236.19 and a two-hundred day moving average of $198.42. The company has a market capitalization of $178.91 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The business had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same quarter in the prior year, the business posted $2.91 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, analysts forecast that Salesforce Inc. will post 12.82 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, September 17th. Salesforce’s dividend payout ratio is 16.04%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $250.00 price objective on shares of Salesforce in a research report on Thursday, September 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Salesforce in a report on Tuesday, October 20th. Wells Fargo & Company downgraded shares of Salesforce from a “buy” rating to a “strong sell” rating in a research note on Monday, October 12th. Truist Financial reiterated a “buy” rating and set a $300.00 price target (up from $280.00) on shares of Salesforce in a report on Thursday, August 27th. Finally, Citigroup reiterated a “market outperform” rating on shares of Salesforce in a report on Tuesday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.98.

Salesforce Profile

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.