Huntington National Bank Sells 53,385 Shares of Salesforce Inc. $CRM

Huntington National Bank decreased its stake in Salesforce Inc. (NYSE:CRM) by 38.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 85,871 shares of the CRM provider’s stock after selling 53,385 shares during the quarter. Huntington National Bank’s holdings in Salesforce were worth $22,748,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CRM. Board of the Pension Protection Fund bought a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Key Capital Management INC bought a new position in shares of Salesforce in the 4th quarter valued at about $26,000. Legacy Bridge LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $27,000. Texas Capital Bancshares Inc TX bought a new position in shares of Salesforce in the 3rd quarter valued at about $28,000. Finally, Dogwood Wealth Management LLC grew its holdings in shares of Salesforce by 285.7% in the 4th quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.7%

Shares of NYSE:CRM opened at $177.86 on Thursday. Salesforce Inc. has a 12-month low of $163.52 and a 12-month high of $278.81. The stock has a market cap of $145.53 billion, a PE ratio of 22.77, a P/E/G ratio of 1.25 and a beta of 1.14. The business has a 50 day moving average of $181.23 and a 200-day moving average of $211.16. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, equities research analysts forecast that Salesforce Inc. will post 9.71 earnings per share for the current year.

Salesforce announced that its board has authorized a share repurchase plan on Monday, March 16th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director David Blair Kirk acquired 2,570 shares of Salesforce stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of $194.62 per share, for a total transaction of $500,173.40. Following the completion of the acquisition, the director directly owned 13,689 shares in the company, valued at approximately $2,664,153.18. The trade was a 23.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura Alber acquired 2,571 shares of Salesforce stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $194.58 per share, with a total value of $500,265.18. Following the acquisition, the director owned 9,530 shares of the company’s stock, valued at approximately $1,854,347.40. This trade represents a 36.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 3.50% of the company’s stock.

Salesforce News Roundup

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Salesforce topped Wall Street expectations for Q1, posting EPS of $3.88 and revenue of $11.13 billion, supported by continued adoption of its AI-powered tools and strong double-digit revenue growth. Reuters article
• Positive Sentiment: The company said Agentforce annualized revenue passed the $1 billion mark, reinforcing the case that its AI products are becoming a meaningful growth driver. CNBC article
• Positive Sentiment: Management also raised full-year profit guidance and said it will keep investing in strong products and share buybacks, which may help support shareholder returns. CNBC article
• Neutral Sentiment: CEO Marc Benioff pushed back on fears that AI rivals like OpenAI and Anthropic will disrupt Salesforce, arguing the company’s software remains central to enterprise customers. CNBC article
• Negative Sentiment: Investors were disappointed that revenue guidance for the year came in only slightly below expectations, while backlog metrics also appeared softer than hoped, tempering enthusiasm around the beat. CNBC article
• Negative Sentiment: Salesforce remains weighed down by investor concern that AI could reshape the enterprise software market and pressure long-term growth, keeping the stock volatile despite the quarter’s solid results. Benzinga article

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Salesforce in a report on Thursday, February 26th. Truist Financial set a $280.00 price target on shares of Salesforce in a research report on Thursday, February 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $281.00 price target on shares of Salesforce in a research report on Thursday, February 26th. Oppenheimer dropped their price target on shares of Salesforce from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Salesforce in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $272.73.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.