Trust Co of Kansas Raises Stock Holdings in Salesforce Inc. $CRM

Key Points

• Trust Co of Kansas increased its holdings in Salesforce Inc. by 6.6%, owning 22,443 shares valued at approximately $6.12 million, making it the 16th largest position in its portfolio.
• CEO Marc Benioff sold 2,250 shares for $550,192, while Director David Blair Kirk acquired 3,400 shares, indicating mixed insider trading activity.
• Salesforce's stock has a market capitalization of $224.40 billion, with a recent share price of $235.72, and analysts have a consensus price target of $332.58 on the stock.

Trust Co of Kansas lifted its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,443 shares of the CRM provider's stock after buying an additional 1,385 shares during the quarter. Salesforce makes up about 2.9% of Trust Co of Kansas' portfolio, making the stock its 16th biggest position. Trust Co of Kansas' holdings in Salesforce were worth $6,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Salesforce by 1.6% in the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after buying an additional 1,383,942 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Salesforce by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock worth $2,484,616,000 after purchasing an additional 600,386 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Salesforce by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock worth $2,419,037,000 after purchasing an additional 437,435 shares in the last quarter. Nuveen LLC bought a new position in Salesforce in the first quarter worth approximately $2,039,196,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Salesforce by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock worth $1,707,316,000 after purchasing an additional 295,681 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $244.53, for a total value of $550,192.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,912,736,456.63. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Blair Kirk acquired 3,400 shares of the stock in a transaction dated Tuesday, September 9th. The stock was acquired at an average cost of $254.66 per share, with a total value of $865,844.00. Following the transaction, the director directly owned 3,824 shares in the company, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 78,750 shares of company stock valued at $19,825,358 in the last three months. Insiders own 3.00% of the company's stock.

Salesforce Stock Down 0.5%

Shares of NYSE CRM opened at $235.72 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $224.40 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The stock's fifty day simple moving average is $247.81 and its two-hundred day simple moving average is $260.87.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. As a group, analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is presently 24.13%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Canaccord Genuity Group dropped their price objective on Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Macquarie reissued a "neutral" rating and issued a $290.00 price objective on shares of Salesforce in a research note on Thursday, September 4th. Robert W. Baird dropped their price objective on Salesforce from $365.00 to $325.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Citigroup increased their price objective on Salesforce from $275.00 to $276.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 9th. Finally, Oppenheimer dropped their target price on Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 26th. Twenty-six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $332.58.

About Salesforce

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.

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