10,274 Salesforce Inc. $CRM Shares Sold by Philadelphia Trust Co.

Key Points

• Philadelphia Trust Co. cut its Salesforce holdings by 28.7% in the third quarter, selling 10,274 shares; it retained 25,494 shares valued at about $5.85 million.
• Salesforce’s latest quarterly results topped analyst expectations, with EPS of $5.90 versus $3.27 consensus and revenue of $11.35 billion, up 10.8% year over year.
• Analysts maintain a Moderate Buy consensus and an average price target of $278.98; Salesforce also pays a quarterly dividend of $0.44 per share.

Philadelphia Trust Co. trimmed its position in Salesforce Inc. (NYSE:CRM - Free Report) by 28.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 25,494 shares of the CRM provider's stock after selling 10,274 shares during the period. Philadelphia Trust Co.'s holdings in Salesforce were worth $5,853,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Thor Investment Management Inc. OH ADV raised its position in shares of Salesforce by 0.7% during the third quarter. Thor Investment Management Inc. OH ADV now owns 6,422 shares of the CRM provider's stock worth $1,474,000 after acquiring an additional 45 shares during the last quarter. Bradley & Co. Private Wealth Management LLC lifted its stake in shares of Salesforce by 9.6% during the third quarter. Bradley & Co. Private Wealth Management LLC now owns 558 shares of the CRM provider's stock valued at $128,000 after acquiring an additional 49 shares during the period. Crumly & Associates Inc. boosted its holdings in Salesforce by 1.5% in the third quarter. Crumly & Associates Inc. now owns 3,396 shares of the CRM provider's stock valued at $780,000 after acquiring an additional 50 shares during the last quarter. Meridian Financial Partners LLC boosted its holdings in Salesforce by 1.1% in the third quarter. Meridian Financial Partners LLC now owns 4,700 shares of the CRM provider's stock valued at $1,160,000 after acquiring an additional 50 shares during the last quarter. Finally, Peterson Wealth Services increased its position in Salesforce by 3.6% in the third quarter. Peterson Wealth Services now owns 1,549 shares of the CRM provider's stock worth $356,000 after purchasing an additional 54 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 0.6%

NYSE:CRM opened at $213.58 on Wednesday. Salesforce Inc. has a 12-month low of $146.32 and a 12-month 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 $175.78 billion, a P/E ratio of 19.47, a P/E/G ratio of 0.98 and a beta of 1.24. The stock's fifty day simple moving average is $237.80 and its 200-day simple moving average is $198.53.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $2.63. The business had revenue of $11.35 billion during the quarter, compared to analysts' expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period 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. Equities research analysts expect that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $0.44 per share. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on Salesforce from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, September 17th. BMO Capital Markets upped their target price on shares of Salesforce from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, September 17th. Weiss Ratings raised shares of Salesforce from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Salesforce in a research note on Monday, October 12th. They issued a "buy" rating on the stock. Finally, Barclays cut shares of Salesforce from an "overweight" rating to a "positive" rating in a research report on Monday, October 12th. Four research 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 issued a Sell rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $278.98.

Insider Activity

In other news, Director David Blair Kirk purchased 4,176 shares of the business's stock in a transaction that occurred 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 transaction, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction that occurred on 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 transaction, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. The trade was a 45.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is currently owned by insiders.

Salesforce Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.