Legacy Private Trust Co. reduced its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 31.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,552 shares of the CRM provider's stock after selling 1,178 shares during the quarter. Legacy Private Trust Co.'s holdings in Salesforce were worth $696,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Coign Capital Advisors LLC grew its position in Salesforce by 1.7% in the first quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after acquiring an additional 37 shares during the last quarter. Staley Capital Advisers Inc. boosted its stake in shares of Salesforce by 1.1% during the first quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock valued at $897,000 after purchasing an additional 38 shares in the last quarter. KDT Advisors LLC boosted its stake in shares of Salesforce by 4.1% during the first quarter. KDT Advisors LLC now owns 967 shares of the CRM provider's stock valued at $260,000 after purchasing an additional 38 shares in the last quarter. Liberty One Investment Management LLC boosted its stake in shares of Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its stake in shares of Salesforce by 7.3% during the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock valued at $154,000 after purchasing an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on CRM. Cantor Fitzgerald reissued an "overweight" rating and set a $325.00 price target on shares of Salesforce in a research note on Thursday, September 4th. Wells Fargo & Company cut their price target on Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 4th. Bank of America cut their price target on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, September 4th. Finally, The Goldman Sachs Group lifted their price target on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $332.58.
Check Out Our Latest Stock Report on CRM
Insiders Place Their Bets
In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $243.91, for a total value of $548,797.50. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $2,905,351,282.61. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Blair Kirk purchased 3,400 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average cost of $254.66 per share, with a total value of $865,844.00. Following the completion of the transaction, the director directly owned 3,824 shares in the company, valued at $973,819.84. The trade was a 801.89% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 72,827 shares of company stock valued at $18,554,576 over the last three months. 3.00% of the stock is currently owned by insiders.
Salesforce Price Performance
Shares of NYSE:CRM opened at $242.33 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The stock's 50 day moving average is $252.66 and its 200-day moving average is $263.90. The firm has a market capitalization of $230.70 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.21 and a beta of 1.22.
Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the firm earned $2.56 earnings per share. Salesforce's revenue for the quarter was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.
Salesforce Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio is presently 24.13%.
Salesforce Profile
(
Free Report)
Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.
See Also
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).
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