Philadelphia Trust Co. Sells 10,274 Shares of Salesforce Inc. $CRM

Philadelphia Trust Co. lowered its holdings in shares of Salesforce Inc. (NYSE:CRM) by 28.7% during the third quarter, HoldingsChannel reports. The firm owned 25,494 shares of the CRM provider’s stock after selling 10,274 shares during the quarter. Philadelphia Trust Co.’s holdings in Salesforce were worth $5,853,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRM. Latitude Advisors LLC bought a new stake in Salesforce during the 3rd quarter worth approximately $25,000. ABS Investment Management LLC acquired a new stake in Salesforce during the 2nd quarter worth approximately $610,974,000. ABS Direct Equity Fund LLC bought a new position in Salesforce in the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC bought a new position in Salesforce in the second quarter valued at approximately $26,000. Finally, Persistent Asset Partners Ltd bought a new position in Salesforce in the second quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Blair Kirk purchased 4,176 shares of the business’s stock in a transaction on Friday, September 18th. The shares were acquired at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the transaction, the director directly owned 18,748 shares in the company, valued at approximately $4,486,958.84. This represents a 28.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Salesforce from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Stephens reaffirmed an “equal weight” rating and issued a $289.00 price objective on shares of Salesforce in a research report on Friday, September 18th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Salesforce in a research report on Thursday, August 27th. Bank of America raised shares of Salesforce from an “underperform” rating to a “buy” rating and upped their target price for the stock from $160.00 to $285.00 in a research note on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Salesforce in a report on Monday, October 12th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.98.

Salesforce Trading Down 0.6%

NYSE:CRM opened at $213.58 on Wednesday. The company has a market cap of $175.78 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 0.98 and a beta of 1.24. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The business has a 50 day moving average price of $237.80 and a two-hundred day moving average price of $198.53. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company 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. As a group, analysts expect that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Announces Dividend

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

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.