Plimoth Trust Co. LLC lessened its stake in Salesforce Inc. (NYSE:CRM – Free Report) 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.
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Several other institutional investors also recently made changes to their positions in CRM. Fluent <a href="https://bitcomme.com/number-of-uk-businesses-in-financial-distress-at-two-decade-high/” title=”Number of UK businesses in financial distress ‘at two-decade high’”>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.
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Salesforce (NYSE:CRM – Get Free Report) 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
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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.
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