Salesforce Inc. $CRM Shares Sold by Deutsche Bank AG

by · The Cerbat Gem

Deutsche Bank AG lowered its stake in shares of Salesforce Inc. (NYSE:CRMFree Report) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,908,539 shares of the CRM provider’s stock after selling 119,774 shares during the quarter. Deutsche Bank AG’s holdings in Salesforce were worth $1,035,411,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Commonwealth Retirement Investments LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $25,000. Board of the Pension Protection Fund acquired a new position in shares of Salesforce during the fourth quarter valued at about $26,000. Key Capital Management INC acquired a new position in shares of Salesforce during the fourth quarter valued at about $26,000. Legacy Bridge LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Finally, Dogwood Wealth Management LLC increased its holdings in shares of Salesforce by 285.7% during the fourth quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $175.30 on Wednesday. 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 Inc. has a twelve month low of $163.52 and a twelve month high of $276.80. The company’s 50 day moving average is $181.17 and its 200 day moving average is $207.98. The company has a market cap of $143.57 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.14 and a beta of 1.16.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, sell-side analysts forecast that Salesforce Inc. will post 10.3 EPS for the current year.

Salesforce announced that its board has approved a stock buyback program on Monday, March 16th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, June 11th. Salesforce’s dividend payout ratio is currently 20.37%.

Insider Activity at Salesforce

In related news, Director David Blair Kirk acquired 2,570 shares of the stock in a transaction on Wednesday, March 18th. The shares were acquired at an average price of $194.62 per share, for a total transaction of $500,173.40. Following the transaction, the director owned 13,689 shares in the company, valued at approximately $2,664,153.18. This trade represents a 23.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Alber acquired 2,571 shares of the stock in a transaction on Thursday, March 19th. The stock was bought at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the transaction, the director owned 9,530 shares in the company, valued at approximately $1,854,347.40. This represents a 36.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Key Salesforce News

Here are the key news stories impacting Salesforce this week:

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. Truist Financial set a $280.00 price objective on shares of Salesforce in a report on Thursday, February 26th. Citigroup reiterated a “market outperform” rating on shares of Salesforce in a report on Thursday, May 28th. Oppenheimer cut their price target on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Salesforce in a report on Thursday, May 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $325.00 price target on shares of Salesforce in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.40.

Check Out Our Latest Research Report on Salesforce

Salesforce Profile

(Free Report)

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.

See Also

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