143,102 Salesforce Inc. $CRM Shares Sold by Danske Bank A S

Danske Bank A S lowered its stake in Salesforce Inc. (NYSE:CRM) by 13.9% during the third quarter, Holdings Channel.com reports. The firm owned 885,649 shares of the CRM provider’s stock after selling 143,102 shares during the quarter. Danske Bank A S’s holdings in Salesforce were worth $203,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dogwood Wealth Management LLC lifted its position in shares of Salesforce by 144.2% during the 3rd quarter. Dogwood Wealth Management LLC now owns 254 shares of the CRM provider’s stock worth $58,000 after purchasing an additional 150 shares during the last quarter. McLean Asset Management Corp acquired a new position in shares of Salesforce during the third quarter worth $204,000. MSH Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter worth $204,000. Cornerstone Advisory LLC increased its holdings in Salesforce by 10.8% in the third quarter. Cornerstone Advisory LLC now owns 1,450 shares of the CRM provider’s stock valued at $333,000 after buying an additional 141 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in Salesforce by 174.7% in the third quarter. Addison Advisors LLC now owns 401 shares of the CRM provider’s stock valued at $92,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM traded up $0.09 during midday trading on Friday, reaching $217.66. The stock had a trading volume of 5,047,446 shares, compared to its average volume of 6,957,323. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a market cap of $179.13 billion, a P/E ratio of 19.84, a P/E/G ratio of 0.99 and a beta of 1.24. The firm has a fifty day simple moving average of $235.27 and a two-hundred day simple moving average of $198.36. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The company had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.33 billion. During the same quarter in the prior year, the firm earned $2.91 EPS. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities analysts expect that Salesforce Inc. will post 12.82 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, September 17th. This represents a $1.76 annualized dividend and a yield of 0.8%. Salesforce’s payout ratio is presently 16.04%.

Analysts Set New Price Targets

Several equities analysts have commented on CRM shares. Zacks Research upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Argus boosted their price objective on shares of Salesforce from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Bank of America upgraded shares of Salesforce from an “underperform” rating to a “buy” rating and upped their target price for the company from $160.00 to $285.00 in a report on Monday, October 12th. Barclays downgraded shares of Salesforce from an “overweight” rating to a “positive” rating in a research report on Monday, October 12th. Finally, Weiss Ratings upgraded shares of Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.98.

Insider Buying and Selling

In related news, Director David Blair Kirk bought 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The stock was bought at an average cost of $239.33 per share, with a total value of $999,442.08. Following the completion of the acquisition, the director owned 18,748 shares in the company, valued at approximately $4,486,958.84. This represents a 28.66% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares of the company’s stock, valued at $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Salesforce Company Profile

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.