Central Pacific Bank Trust Division Sells 6,023 Shares of Salesforce Inc. $CRM

Central Pacific Bank Trust Division lessened its position in Salesforce Inc. (NYSE:CRM) by 54.1% in the third quarter, HoldingsChannel reports. The firm owned 5,113 shares of the CRM provider’s stock after selling 6,023 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Salesforce were worth $1,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Norges Bank bought a new stake in shares of Salesforce during the 2nd quarter valued at $2,826,049,000. Laurel Wealth Advisors LLC increased its stake in shares of Salesforce by 27,361.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,424,169 shares of the CRM provider’s stock worth $933,737,000 after acquiring an additional 3,411,700 shares in the last quarter. Acadian Asset Management LLC lifted its position in Salesforce by 1,729.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,973,141 shares of the CRM provider’s stock valued at $538,020,000 after acquiring an additional 1,865,297 shares during the period. Longview Partners Guernsey LTD bought a new stake in Salesforce during the first quarter worth about $467,944,000. Finally, Amundi grew its holdings in Salesforce by 26.2% in the second quarter. Amundi now owns 7,755,317 shares of the CRM provider’s stock worth $2,087,545,000 after purchasing an additional 1,612,413 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director G Mason Morfit acquired 96,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the acquisition, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. The trade was a 3.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the sale, the insider owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. This trade represents a 49.07% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 175,284 shares of company stock valued at $41,648,819. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets dropped their price target on Salesforce from $280.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Salesforce in a research note on Thursday, December 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Salesforce in a report on Thursday, December 4th. Wells Fargo & Company reduced their price target on Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a report on Thursday, September 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $375.00 price target on shares of Salesforce in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $326.46.

Salesforce Stock Down 3.0%

CRM stock opened at $254.30 on Tuesday. The stock has a market capitalization of $238.28 billion, a P/E ratio of 33.95, a P/E/G ratio of 1.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. Salesforce Inc. has a 1-year low of $221.96 and a 1-year high of $367.09. The business has a fifty day moving average price of $245.67 and a 200-day moving average price of $251.83.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS 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 return on equity of 14.41% and a net margin of 17.91%.Salesforce’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities analysts forecast 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 issued a $0.416 dividend. The ex-dividend date is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce’s dividend payout ratio (DPR) is currently 22.16%.

About Salesforce

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.