Cardinal Point Capital Management ULC Invests $393,000 in Salesforce Inc. $CRM

Cardinal Point Capital Management ULC purchased a new position in Salesforce Inc. (NYSE:CRM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,440 shares of the CRM provider’s stock, valued at approximately $393,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Coign Capital Advisors LLC raised its holdings in shares of Salesforce by 1.7% during the 1st quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider’s stock worth $586,000 after acquiring an additional 37 shares during the period. Staley Capital Advisers Inc. raised its holdings in shares of Salesforce by 1.1% during the 1st quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider’s stock worth $897,000 after acquiring an additional 38 shares during the period. KDT Advisors LLC raised its holdings in shares of Salesforce by 4.1% during the 1st quarter. KDT Advisors LLC now owns 967 shares of the CRM provider’s stock worth $260,000 after acquiring an additional 38 shares during the period. Liberty One Investment Management LLC raised its holdings in shares of Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider’s stock worth $849,000 after acquiring an additional 39 shares during the period. Finally, First Command Advisory Services Inc. raised its holdings in shares of Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider’s stock worth $154,000 after acquiring an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $259.01, for a total transaction of $582,772.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $3,085,216,004.71. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 78,750 shares of company stock worth $19,424,880 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. Northland Capmk lowered Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Roth Capital restated a “buy” rating and issued a $395.00 price objective on shares of Salesforce in a report on Thursday, September 4th. Sanford C. Bernstein reduced their price objective on shares of Salesforce from $255.00 to $221.00 and set an “underperform” rating on the stock in a report on Thursday, September 4th. Canaccord Genuity Group reduced their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Salesforce from $380.00 to $365.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $325.23.

Salesforce Stock Down 0.0%

Shares of NYSE:CRM opened at $254.93 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $242.69 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 2.14 and a beta of 1.19. The firm’s 50-day moving average is $246.53 and its two-hundred day moving average is $258.07. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were paid a dividend of $0.416 per share. The ex-dividend date was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce’s dividend payout ratio is 24.13%.

Salesforce Company Profile

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.