Plimoth Trust Co. LLC Purchases 2,091 Shares of Salesforce Inc. $CRM

Plimoth Trust Co. LLC increased its position in shares of Salesforce Inc. (NYSE:CRM) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,956 shares of the CRM provider’s stock after acquiring an additional 2,091 shares during the period. Salesforce comprises 1.1% of Plimoth Trust Co. LLC’s holdings, making the stock its 25th largest holding. Plimoth Trust Co. LLC’s holdings in Salesforce were worth $4,967,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRM. Painted Porch Advisors LLC raised its holdings in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after buying an additional 65 shares in the last quarter. Evolution Wealth Management Inc. bought a new position in Salesforce in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its stake in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 85 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of Salesforce by 383.3% in the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock worth $32,000 after acquiring an additional 92 shares during the last quarter. Finally, Maseco LLP acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Wall Street Zen raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Evercore ISI cut their price objective on Salesforce from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. Stifel Nicolaus reduced their price objective on Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Robert W. Baird dropped their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Salesforce in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.68.

Insider Buying and Selling

In other news, Director David Blair Kirk purchased 1,936 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were bought at an average cost of $258.64 per share, with a total value of $500,727.04. Following the completion of the transaction, the director directly owned 10,677 shares of the company’s stock, valued at approximately $2,761,499.28. This trade represents a 22.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the sale, the insider directly owned 139,767 shares of the company’s stock, valued at $32,803,314.90. The trade was a 49.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 164,034 shares of company stock worth $38,889,037. 3.00% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.3%

NYSE CRM opened at $266.09 on Monday. Salesforce Inc. has a 52 week low of $221.96 and a 52 week high of $367.09. The business has a 50 day moving average price of $249.16 and a 200-day moving average price of $251.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14. The company has a market cap of $249.33 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 1.98 and a beta of 1.25.

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

Salesforce Announces Dividend

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

Salesforce Company Profile

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.