Legacy Private Trust Co. Reduces Salesforce, Inc. Holdings

On January 9th, 2025, it was reported that Legacy Private Trust Co. has reduced its stake in Salesforce, Inc. (NYSE:CRM). According to their latest 13F filing with the Securities and Exchange Commission (SEC), the firm lowered its holdings by 8.8% during the fourth quarter, selling 472 shares. After this transaction, Legacy Private Trust Co. now holds 4,913 shares of Salesforce, valued at approximately $1,643,000 at the end of the quarter.

Other Institutional Investors Change Holdings

In addition to Legacy Private Trust Co., several other institutional investors have also adjusted their positions in Salesforce. First Hawaiian Bank increased its stake by 16.7%, acquiring an additional 1,906 shares, bringing its total to 13,326 shares worth about $4,455,000. Douglas Lane & Associates LLC saw a significant growth of 57.5% in its holdings, now owning 142,741 shares valued at $47,723,000 after adding 52,104 shares during the same period. Fulton Bank N.A. raised its stake by 13.7% to own 10,541 shares, worth $3,524,000, following the purchase of 1,272 shares. Worth Asset Management LLC acquired a new position in Salesforce valued at $2,812,000, while One Wealth Capital Management LLC purchased a stake worth $252,000. Overall, hedge funds and institutional investors currently hold 80.43% of Salesforce stock.

Analyst Ratings and Forecasts

Analysts on Wall Street have provided various outlooks for Salesforce shares. Scotiabank recently raised its target price for Salesforce from $425.00 to $440.00, rating it as a "sector outperform". Wells Fargo & Company also increased its price target from $275.00 to $330.00, assigning an "equal weight" rating. Truist Financial maintained a "buy" rating, adjusting its target price to $400.00 from a previous $380.00. Cfra set a price target of $343.00, while Loop Capital raised their price objective from $340.00 to $360.00, giving the company a "hold" rating. The consensus among analysts is largely positive, with one sell rating, seven hold ratings, thirty buy ratings, and four strong buy ratings, indicating an average rating of "Moderate Buy" and a price target of $376.05 according to MarketBeat.com.

Salesforce Stock Performance

Salesforce stock saw an uptick of 0.5%, opening at $326.67 on Thursday. The company's 50-day moving average stands at $334.65, while the 200-day moving average is $288.26. Over the past year, Salesforce's stock has fluctuated, with a low of $212.00 and a high of $369.00. Its market capitalization is $312.62 billion, with a price-to-earnings ratio of 53.73 and a price-to-earnings growth ratio of 3.21. Furthermore, Salesforce's debt-to-equity ratio is relatively low at 0.14, with a current ratio and quick ratio both at 1.11.

Earnings Results and Anticipated Dividends

Salesforce released its quarterly earnings results on December 3rd, reporting earnings per share (EPS) of $2.41, slightly below analysts' expectation of $2.44. The company generated revenue of $9.44 billion for the quarter, surpassing the consensus estimate of $9.35 billion. Notably, the company experienced a net margin of 15.96% and a return on equity of 12.34%, with revenue growth of 8.3% year-over-year. Looking ahead, analysts predict that Salesforce will post an EPS of 7.48 for the current fiscal year. In addition to the earnings report, the company has announced a quarterly dividend of $0.40 per share, to be paid on January 9th, with a record date of December 18th. This results in an annual dividend yield of 0.49%.

Insider Transactions

On the insider trading front, CAO Sundeep G. Reddy sold 413 shares on October 23rd at an average price of $285.29. Following the sale, he retains 7,006 shares valued at approximately $1,998,741.74. Additionally, Director G Mason Morfit sold a substantial 722,300 shares on December 18th for an average price of $346.11, totaling $249,995,253.00, which reduced his ownership by 18.45%. Approximately 3.20% of the company’s shares are owned by corporate insiders, with a total of 1,181,817 shares sold in the past ninety days valued at $404,760,429.

Overview of Salesforce, Inc.

Salesforce, Inc. is a leader in Customer Relationship Management (CRM) technology, offering solutions that connect companies with their customers. Their services encompass sales, data storage, lead monitoring, analytics, and delivering personalized customer support at scale.

Salesforce, Investors, Stocks