3,140 Salesforce Inc. $CRM Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lessened its stake in Salesforce Inc. (NYSE:CRM) by 11.7% in the third quarter, Holdings Channel reports. The institutional investor owned 23,762 shares of the CRM provider’s stock after selling 3,140 shares during the quarter. Salesforce accounts for about 1.0% of Plimoth Trust Co. LLC’s portfolio, making the stock its 24th largest position. Plimoth Trust Co. LLC’s holdings in Salesforce were worth $5,455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Salesforce by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 125,629 shares of the CRM provider’s stock valued at $28,841,000 after acquiring an additional 905 shares in the last quarter. Peterson Wealth Services grew its holdings in Salesforce by 3.6% during the 3rd quarter. Peterson Wealth Services now owns 1,549 shares of the CRM provider’s stock worth $356,000 after acquiring an additional 54 shares in the last quarter. IVC Wealth Advisors LLC grew its holdings in Salesforce by 8.5% during the 3rd quarter. IVC Wealth Advisors LLC now owns 2,480 shares of the CRM provider’s stock worth $569,000 after acquiring an additional 194 shares in the last quarter. Aries Wealth Management grew its holdings in Salesforce by 3.6% during the 3rd quarter. Aries Wealth Management now owns 3,516 shares of the CRM provider’s stock worth $807,000 after acquiring an additional 122 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC grew its holdings in Salesforce by 9.6% during the 3rd quarter. Bradley & Co. Private Wealth Management LLC now owns 558 shares of the CRM provider’s stock worth $128,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $247.69 on Tuesday. The company has a market cap of $203.85 billion, a PE ratio of 18.40, a P/E/G ratio of 1.13 and a beta of 1.26. The company has a fifty day moving average price of $235.03 and a two-hundred day moving average price of $199.47. 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 Inc. has a 12 month low of $146.32 and a 12 month high of $269.11.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Salesforce’s payout ratio is 16.04%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Salesforce in a research report on Thursday, August 27th. DA Davidson increased their price target on shares of Salesforce from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Canaccord Genuity Group lifted their price target on Salesforce from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, September 17th. JPMorgan Chase & Co. boosted their price objective on Salesforce from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, Bank of America raised Salesforce from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $160.00 to $285.00 in a report on Monday, October 12th. Three 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.98.

Insider Transactions at Salesforce

In other Salesforce news, Director David Blair Kirk bought 4,176 shares of the business’s stock in a transaction on Friday, September 18th. The shares were purchased at an average price of $239.33 per share, with a total value of $999,442.08. Following the completion of the acquisition, the director directly owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This represents a 45.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by corporate insiders.

Salesforce Company Profile

Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.