CRM

Boston Trust Walden Corp Sells 239 Shares of Salesforce, Inc. (NYSE:CRM)

April 7, 2024

37 4 minutes read

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Boston Trust Walden Corp trimmed its stake in Salesforce, Inc. (NYSE:CRM – Free Report) by 10.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,063 shares of the CRM provider’s stock after selling 239 shares during the period. Boston Trust Walden Corp’s holdings in Salesforce were worth $543,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacifica Partners Inc. lifted its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $34,000. GHP Investment Advisors Inc. lifted its stake in shares of Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares during the last quarter. Live Oak Investment Partners bought a new stake in shares of Salesforce during the 4th quarter worth approximately $36,000. Finally, AlphaMark Advisors LLC lifted its stake in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRM. UBS Group raised their price target on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. JMP Securities raised their price target on Salesforce from $293.00 to $342.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 29th. Evercore ISI raised their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Needham & Company LLC raised their price target on Salesforce from $275.00 to $345.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, KeyCorp assumed coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $304.97.

Get Our Latest Report on Salesforce

Salesforce Stock Up 2.6 %

Shares of CRM stock opened at $301.91 on Friday. Salesforce, Inc. has a 1-year low of $187.31 and a 1-year high of $318.71. The stock’s fifty day moving average price is $297.40 and its 200 day moving average price is $256.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $292.85 billion, a price-to-earnings ratio of 71.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28.

Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.53%. Salesforce’s dividend payout ratio is currently 9.52%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of Salesforce stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the sale, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of Salesforce stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the sale, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 913,175 shares of company stock valued at $262,199,146. 3.70% of the stock is owned by company insiders.

Salesforce Profile

(Free Report)

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.