Salesforce Inc. $CRM Shares Acquired by Legacy Private Trust Co.

Legacy Private Trust Co. increased its holdings in shares of Salesforce Inc. (NYSE:CRM) by 85.8% in the third quarter, Holdings Channel reports. The firm owned 4,741 shares of the CRM provider’s stock after acquiring an additional 2,189 shares during the period. Legacy Private Trust Co.’s holdings in Salesforce were worth $1,124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Vanguard Group Inc. increased its position in shares of Salesforce by 1.0% in the second quarter. Vanguard Group Inc. now owns 88,823,481 shares of the CRM provider’s stock worth $24,221,275,000 after acquiring an additional 909,853 shares in the last quarter. State Street Corp boosted its position in Salesforce by 1.6% during the 2nd quarter. State Street Corp now owns 49,260,918 shares of the CRM provider’s stock worth $13,452,998,000 after purchasing an additional 776,300 shares during the period. Geode Capital Management LLC raised its position in Salesforce by 0.6% in the second quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock valued at $5,669,224,000 after purchasing an additional 114,504 shares during the period. Norges Bank purchased a new position in Salesforce in the second quarter valued at about $2,826,049,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Salesforce by 6.9% during 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. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director G Mason Morfit bought 96,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the transaction, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. The trade was a 3.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $244.64, for a total value of $550,440.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,914,046,729.44. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 173,034 shares of company stock valued at $41,097,367 in the last quarter. Insiders own 3.00% of the company’s stock.

Salesforce Trading Up 1.3%

NYSE CRM opened at $258.10 on Thursday. Salesforce Inc. has a 12 month low of $221.96 and a 12 month high of $367.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $241.84 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The company’s fifty day moving average price is $246.33 and its two-hundred day moving average price is $251.81.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.39. The company had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.416 per share. The ex-dividend date is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.6%. Salesforce’s dividend payout ratio is presently 22.16%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CRM shares. Macquarie increased their target price on Salesforce from $250.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Barclays lifted their price objective on shares of Salesforce from $316.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Citizens Jmp restated a “market outperform” rating and issued a $430.00 target price on shares of Salesforce in a research note on Tuesday, December 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, December 4th. Finally, Cowen reissued a “buy” rating on shares of Salesforce in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $326.68.

Salesforce Profile

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.