CRM

Trust Co. of Vermont Has $9.50 Million Holdings in Salesforce, Inc. (NYSE:CRM)

June 17, 2024

21 4 minutes read

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Trust Co. of Vermont increased its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,090 shares of the CRM provider’s stock after buying an additional 175 shares during the quarter. Trust Co. of Vermont’s holdings in Salesforce were worth $9,497,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Graypoint LLC increased its holdings in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after purchasing an additional 36 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Salesforce by 11.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC increased its holdings in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC increased its holdings in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, Director Craig Conway sold 6,000 shares of Salesforce stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the completion of the sale, the director now directly owns 6,855 shares of the company’s stock, valued at approximately $1,642,732.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the sale, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $240.40, for a total transaction of $673,120.00. Following the completion of the transaction, the insider now owns 115,762 shares in the company, valued at approximately $27,829,184.80. The disclosure for this sale can be found here. Insiders sold 634,670 shares of company stock worth $178,310,008 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded down $1.06 during trading hours on Monday, hitting $230.88. 642,655 shares of the company were exchanged, compared to its average volume of 6,678,595. The firm has a fifty day simple moving average of $268.79 and a 200 day simple moving average of $277.27. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market capitalization of $223.72 billion, a price-to-earnings ratio of 41.72, a P/E/G ratio of 2.04 and a beta of 1.26.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the business posted $1.15 EPS. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Thursday, May 30th. Jefferies Financial Group cut their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Raymond James reiterated a “strong-buy” rating and issued a $325.00 target price (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $292.79.

View Our Latest Analysis on CRM

About Salesforce

(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.