Huntington National Bank Sells 53,385 Shares of Salesforce Inc. $CRM

Key Points

• Huntington National Bank cut its Salesforce stake by 38.3% in the fourth quarter, selling 53,385 shares and leaving it with 85,871 shares worth about $22.7 million.
• Salesforce reported a strong quarter, with EPS of $3.88 and revenue of $11.13 billion, both above analyst estimates, while revenue rose 13.3% year over year.
• The company said Agentforce annualized revenue topped $1 billion and management raised full-year profit guidance, but investors were still cautious because revenue guidance and backlog metrics were a bit softer than expected.

Huntington National Bank lessened its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 38.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,871 shares of the CRM provider's stock after selling 53,385 shares during the period. Huntington National Bank's holdings in Salesforce were worth $22,748,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider's stock valued at $23,800,353,000 after acquiring an additional 270,913 shares during the last quarter. State Street Corp raised its position in shares of Salesforce by 0.3% during the 3rd quarter. State Street Corp now owns 49,420,657 shares of the CRM provider's stock valued at $11,732,966,000 after acquiring an additional 159,739 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Salesforce by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider's stock valued at $5,751,073,000 after acquiring an additional 791,345 shares during the last quarter. Capital International Investors raised its position in shares of Salesforce by 9.4% during the 3rd quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider's stock valued at $4,753,519,000 after acquiring an additional 1,729,440 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Salesforce by 159.0% during the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider's stock valued at $4,106,255,000 after acquiring an additional 10,636,161 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Key Headlines Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Salesforce topped Wall Street expectations for Q1, posting EPS of $3.88 and revenue of $11.13 billion, supported by continued adoption of its AI-powered tools and strong double-digit revenue growth. Reuters article
• Positive Sentiment: The company said Agentforce annualized revenue passed the $1 billion mark, reinforcing the case that its AI products are becoming a meaningful growth driver. CNBC article
• Positive Sentiment: Management also raised full-year profit guidance and said it will keep investing in strong products and share buybacks, which may help support shareholder returns. CNBC article
• Neutral Sentiment: CEO Marc Benioff pushed back on fears that AI rivals like OpenAI and Anthropic will disrupt Salesforce, arguing the company’s software remains central to enterprise customers. CNBC article
• Negative Sentiment: Investors were disappointed that revenue guidance for the year came in only slightly below expectations, while backlog metrics also appeared softer than hoped, tempering enthusiasm around the beat. CNBC article
• Negative Sentiment: Salesforce remains weighed down by investor concern that AI could reshape the enterprise software market and pressure long-term growth, keeping the stock volatile despite the quarter’s solid results. Benzinga article

Salesforce Stock Down 0.7%

NYSE:CRM opened at $177.86 on Thursday. Salesforce Inc. has a 1 year low of $163.52 and a 1 year high of $278.81. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $145.53 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.25 and a beta of 1.14. The stock has a 50-day moving average price of $181.23 and a two-hundred day moving average price of $211.16.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The company's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, equities analysts expect that Salesforce Inc. will post 9.71 earnings per share for the current year.

Salesforce announced that its Board of Directors has approved a share buyback program on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to reacquire up to 14.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CRM has been the subject of several recent research reports. BMO Capital Markets dropped their target price on shares of Salesforce from $235.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, February 26th. Wall Street Zen cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Stifel Nicolaus dropped their target price on shares of Salesforce from $300.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Morgan Stanley dropped their target price on shares of Salesforce from $398.00 to $287.00 and set an "overweight" rating for the company in a research report on Monday, February 23rd. Finally, Oppenheimer dropped their target price on shares of Salesforce from $275.00 to $250.00 and set an "outperform" rating for the company in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $272.73.

Insider Transactions at Salesforce

In other news, Director David Blair Kirk bought 2,570 shares of the stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $194.62 per share, for a total transaction of $500,173.40. Following the acquisition, the director owned 13,689 shares in the company, valued at approximately $2,664,153.18. This trade represents a 23.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Laura Alber acquired 2,571 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of $194.58 per share, with a total value of $500,265.18. Following the completion of the acquisition, the director owned 9,530 shares of the company's stock, valued at $1,854,347.40. This represents a 36.94% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by corporate insiders.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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