Meitav Investment House Ltd. Sells 113,121 Shares of Salesforce Inc. $CRM

Meitav Investment House Ltd. decreased its position in Salesforce Inc. (NYSE:CRM) by 48.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,463 shares of the CRM provider’s stock after selling 113,121 shares during the period. Meitav Investment House Ltd.’s holdings in Salesforce were worth $22,487,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Temasek Holdings Private Ltd increased its position in shares of Salesforce by 3.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock valued at $181,143,000 after purchasing an additional 24,332 shares during the last quarter. SFE Investment Counsel boosted its holdings in shares of Salesforce by 82.7% in the 4th quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock worth $4,608,000 after buying an additional 7,871 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Salesforce by 8.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,299,513 shares of the CRM provider’s stock worth $307,984,000 after buying an additional 106,107 shares during the last quarter. Secured Retirement Advisors LLC bought a new position in Salesforce during the first quarter valued at about $1,004,000. Finally, Eminence Capital LP increased its holdings in Salesforce by 5.6% during the third quarter. Eminence Capital LP now owns 830,536 shares of the CRM provider’s stock worth $196,837,000 after buying an additional 43,888 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM traded up $5.70 on Tuesday, reaching $171.35. 4,581,504 shares of the company’s stock were exchanged, compared to its average volume of 13,924,718. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $140.34 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.03 and a beta of 1.18. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $276.80. The stock has a fifty day simple moving average of $173.23 and a 200-day simple moving average of $197.31.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. 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, sell-side analysts predict that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce declared that its board has approved a share buyback program on Monday, March 16th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Salesforce’s payout ratio is presently 20.37%.

Analyst Ratings Changes

Several brokerages have commented on CRM. BTIG Research reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Salesforce in a research report on Tuesday, May 26th. Wedbush began coverage on shares of Salesforce in a research report on Wednesday, July 1st. They set an “outperform” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Salesforce in a research note on Thursday, May 28th. TD Cowen reaffirmed a “buy” rating on shares of Salesforce in a report on Friday, June 12th. Finally, Phillip Securities downgraded Salesforce from a “buy” rating to a “hold” rating and dropped their price objective for the company from $253.00 to $166.00 in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.42.

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.