Salesforce Inc. $CRM Shares Acquired by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. lifted its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 76.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,295 shares of the CRM provider's stock after purchasing an additional 3,155 shares during the quarter. Salesforce accounts for approximately 0.4% of Orrstown Financial Services Inc.'s holdings, making the stock its 29th largest position. Orrstown Financial Services Inc.'s holdings in Salesforce were worth $1,989,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth $25,000. Capital A Wealth Management LLC grew its holdings in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares during the period. CBIZ Investment Advisory Services LLC raised its position in Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares in the last quarter. Abound Financial LLC acquired a new stake in Salesforce in the 1st quarter valued at about $31,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of Salesforce by 383.3% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider's stock valued at $32,000 after purchasing an additional 92 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Oppenheimer reduced their target price on shares of Salesforce from $370.00 to $315.00 and set an "outperform" rating for the company in a report on Tuesday, August 26th. Piper Sandler cut their price objective on Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Canaccord Genuity Group decreased their target price on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Wells Fargo & Company cut their price target on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a report on Thursday, September 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $332.58.

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View Our Latest Analysis on Salesforce

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Blair Kirk bought 3,400 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 77,327 shares of company stock valued at $19,651,406 in the last three months. 3.00% of the stock is owned by insiders.

Salesforce Stock Up 1.1%

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Shares of Salesforce stock opened at $247.04 on Friday. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $250.77 and a two-hundred day moving average price of $262.77. The stock has a market capitalization of $235.18 billion, a P/E ratio of 35.91, a PEG ratio of 2.25 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the company earned $2.56 earnings per share. Salesforce's revenue for the quarter was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's payout ratio is presently 24.13%.

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.

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