Whittier Trust Co. Sells 5,334 Shares of Salesforce Inc. $CRM

Whittier Trust Co. trimmed its position in shares of Salesforce Inc. (NYSE:CRM) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 33,935 shares of the CRM provider’s stock after selling 5,334 shares during the quarter. Whittier Trust Co.’s holdings in Salesforce were worth $8,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CRM. Marquette Asset Management LLC purchased a new position in Salesforce in the third quarter worth about $26,000. Evolution Wealth Management Inc. bought a new position in shares of Salesforce in the 2nd quarter worth approximately $27,000. Quaker Wealth Management LLC boosted its holdings in shares of Salesforce by 208.6% in the second quarter. Quaker Wealth Management LLC now owns 126 shares of the CRM provider’s stock worth $34,000 after buying an additional 242 shares during the last quarter. Spurstone Advisory Services LLC bought a new stake in Salesforce during the second quarter valued at approximately $34,000. Finally, Country Trust Bank increased its holdings in Salesforce by 658.8% during the second quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock valued at $35,000 after buying an additional 112 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.0%

Salesforce stock opened at $228.02 on Monday. Salesforce Inc. has a 1 year low of $218.96 and a 1 year high of $367.09. The firm’s 50 day moving average price is $247.54 and its 200-day moving average price is $248.68. 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 stock has a market cap of $213.65 billion, a P/E ratio of 30.44, a PEG ratio of 1.70 and a beta of 1.26.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, December 18th. Salesforce’s payout ratio is currently 22.16%.

Insider Activity at Salesforce

In other news, Director David Blair Kirk bought 1,936 shares of the stock in a transaction dated Wednesday, December 17th. The stock was purchased at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the transaction, the director owned 10,677 shares of the company’s stock, valued at $2,761,499.28. The trade was a 22.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Neelie Kroes sold 3,893 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total transaction of $929,259.10. Following the completion of the sale, the director owned 7,299 shares in the company, valued at $1,742,271.30. This represents a 34.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 143,177 shares of company stock valued at $33,714,069 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRM shares. Truist Financial dropped their price target on shares of Salesforce from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Thursday, December 4th. Morgan Stanley cut their price target on Salesforce from $405.00 to $398.00 and set an “overweight” rating for the company in a report on Tuesday, December 9th. Wedbush restated an “outperform” rating and issued a $375.00 price target on shares of Salesforce in a research report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Salesforce in a research report on Monday, December 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.51.

About Salesforce

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.