Salesforce, Inc. (NYSE:CRM) Shares Bought by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,014 shares of the CRM provider’s stock after buying an additional 172 shares during the period. Salesforce makes up 1.6% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 11th largest position. Plimoth Trust Co. LLC’s holdings in Salesforce were worth $6,299,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CRM. Whittier Trust Co. of Nevada Inc. boosted its position in Salesforce by 0.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 47,699 shares of the CRM provider’s stock valued at $13,055,000 after buying an additional 410 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Salesforce by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 108,057 shares of the CRM provider’s stock valued at $29,575,000 after acquiring an additional 758 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Salesforce during the third quarter worth $82,000. Little House Capital LLC lifted its position in Salesforce by 11.7% during the third quarter. Little House Capital LLC now owns 8,505 shares of the CRM provider’s stock valued at $2,328,000 after purchasing an additional 890 shares during the period. Finally, Trilogy Capital Inc. boosted its holdings in Salesforce by 10.2% in the third quarter. Trilogy Capital Inc. now owns 1,756 shares of the CRM provider’s stock valued at $481,000 after purchasing an additional 162 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the sale, the director now owns 1,363 shares of the company’s stock, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,575 shares of company stock worth $20,923,258. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 0.6 %

Shares of CRM stock traded down $1.65 on Monday, hitting $291.29. 2,706,101 shares of the stock traded hands, compared to its average volume of 6,396,027. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market capitalization of $282.26 billion, a PE ratio of 52.43, a PEG ratio of 2.61 and a beta of 1.30. The firm’s 50-day moving average price is $266.65 and its two-hundred day moving average price is $263.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Raymond James lifted their target price on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Stifel Nicolaus increased their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer lifted their price objective on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Loop Capital restated a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

Salesforce Company 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.