Salesforce Inc. $CRM Stock Sold by Danske Bank A S

Key Points

• Danske Bank cut its Salesforce stake by 13.9% in the third quarter, selling 143,102 shares; it held 885,649 shares valued at about $203.3 million afterward.
• Salesforce reported quarterly EPS of $5.90, beating the $3.27 consensus estimate, while revenue of $11.35 billion slightly exceeded forecasts and rose 10.8% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $278.98; institutional investors owned 80.43% of the stock.

Danske Bank A S reduced its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 885,649 shares of the CRM provider's stock after selling 143,102 shares during the period. Danske Bank A S owned 0.11% of Salesforce worth $203,318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Dogwood Wealth Management LLC boosted its stake in shares of Salesforce by 144.2% in the third quarter. Dogwood Wealth Management LLC now owns 254 shares of the CRM provider's stock worth $58,000 after acquiring an additional 150 shares during the period. McLean Asset Management Corp bought a new stake in Salesforce during the 3rd quarter valued at approximately $204,000. MSH Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter valued at approximately $204,000. Cornerstone Advisory LLC lifted its holdings in Salesforce by 10.8% in the 3rd quarter. Cornerstone Advisory LLC now owns 1,450 shares of the CRM provider's stock worth $333,000 after purchasing an additional 141 shares in the last quarter. Finally, Addison Advisors LLC lifted its holdings in Salesforce by 174.7% in the 3rd quarter. Addison Advisors LLC now owns 401 shares of the CRM provider's stock worth $92,000 after purchasing an additional 255 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.0%

Shares of NYSE:CRM traded up $0.09 on Friday, reaching $217.66. The company had a trading volume of 5,047,446 shares, compared to its average volume of 6,957,323. The firm has a market capitalization of $179.13 billion, a PE ratio of 19.84, a PEG ratio of 0.99 and a beta of 1.24. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The firm's 50 day simple moving average is $235.27 and its 200-day simple moving average is $198.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, beating the consensus estimate of $3.27 by $2.63. The firm had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, analysts expect that Salesforce Inc. will post 12.82 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce's dividend payout ratio (DPR) is currently 16.04%.

Analyst Ratings Changes

Several brokerages have commented on CRM. BTIG Research reiterated a "buy" rating and issued a $300.00 price target on shares of Salesforce in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their target price on Salesforce from $250.00 to $265.00 and gave the stock an "overweight" rating in a report on Thursday, August 27th. KeyCorp started coverage on Salesforce in a research report on Monday, October 12th. They issued a "sector weight" rating on the stock. Citizens Jmp reissued a "market outperform" rating and set a $315.00 price target on shares of Salesforce in a research note on Friday, September 18th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Salesforce in a report on Thursday, August 27th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $278.98.

Insiders Place Their Bets

In other Salesforce news, Director Craig Conway sold 4,500 shares of the 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 owned 5,437 shares in the company, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Blair Kirk purchased 4,176 shares of the business's stock in a transaction that occurred 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 acquisition, the director owned 18,748 shares in the company, valued at $4,486,958.84. This represents a 28.66% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is currently owned by insiders.

About Salesforce

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.

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