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% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,762 shares of the CRM provider’s stock after selling 3,140 shares during the quarter. Salesforce comprises approximately 1.0% of Plimoth Trust Co. LLC’s holdings, making the stock its 24th biggest holding. Plimoth Trust Co. LLC’s holdings in Salesforce were worth $5,455,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CRM. Fluent Financial LLC purchased a new stake in Salesforce during the second quarter worth approximately $2,265,000. TAM Capital Management Inc. acquired a new stake in shares of Salesforce in the first quarter worth $40,945,000. Secured Retirement Advisors LLC acquired a new stake in shares of Salesforce in the first quarter worth $1,004,000. Janus Henderson Group PLC raised its stake in shares of Salesforce by 2.5% in the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock valued at $23,846,000 after acquiring an additional 3,125 shares during the period. Finally, Anchor Investment Management LLC raised its stake in shares of Salesforce by 184.5% in the 2nd quarter. Anchor Investment Management LLC now owns 17,983 shares of the CRM provider’s stock valued at $2,817,000 after acquiring an additional 11,663 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.4%

CRM opened at $247.69 on Tuesday. The firm’s 50 day moving average is $235.03 and its 200-day moving average is $199.47. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $203.85 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.13 and a beta of 1.26.

Salesforce (NYSE:CRM) last announced 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 business had revenue of $11.35 billion during 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 business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior 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. Analysts expect that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In other news, Director David Blair Kirk acquired 4,176 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was bought at an average cost of $239.33 per share, with a total value of $999,442.08. Following 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 position. The acquisition 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 dated 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 owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen initiated coverage on shares of Salesforce in a report on Monday, October 12th. They set a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Salesforce in a report on Thursday, September 17th. Barclays lowered Salesforce from an “overweight” rating to a “positive” rating in a research report on Monday, October 12th. Stephens restated an “equal weight” rating and set a $289.00 price objective on shares of Salesforce in a research note on Friday, September 18th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $278.98.

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.