Engineers Gate Manager LP Grows Position in Salesforce Inc. $CRM

Engineers Gate Manager LP grew its holdings in Salesforce Inc. (NYSE:CRM) by 181.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,250 shares of the CRM provider’s stock after buying an additional 99,512 shares during the period. Salesforce accounts for about 0.5% of Engineers Gate Manager LP’s holdings, making the stock its 18th biggest holding. Engineers Gate Manager LP’s holdings in Salesforce were worth $42,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Benjamin Edwards Inc. grew its stake in Salesforce by 39.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 71,019 shares of the CRM provider’s stock valued at $19,366,000 after acquiring an additional 20,063 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Salesforce by 132.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 187,838 shares of the CRM provider’s stock worth $51,222,000 after purchasing an additional 107,104 shares during the last quarter. Boothbay Fund Management LLC grew its position in shares of Salesforce by 28.9% in the second quarter. Boothbay Fund Management LLC now owns 33,043 shares of the CRM provider’s stock valued at $9,010,000 after purchasing an additional 7,408 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Salesforce by 453.9% in the second quarter. Brevan Howard Capital Management LP now owns 129,798 shares of the CRM provider’s stock valued at $35,395,000 after purchasing an additional 166,479 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Salesforce by 23.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,028,739 shares of the CRM provider’s stock worth $280,527,000 after buying an additional 196,000 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 134,662 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the transaction, the insider directly owned 139,767 shares in the company, valued at $32,803,314.90. This trade represents a 49.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director G Mason Morfit bought 96,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was purchased at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the transaction, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. This represents a 3.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 177,534 shares of company stock worth $42,194,197. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRM. JMP Securities restated a “market outperform” rating and issued a $430.00 target price on shares of Salesforce in a report on Friday, October 17th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a report on Thursday, December 4th. Wedbush restated an “outperform” rating and set a $375.00 price objective on shares of Salesforce in a research report on Thursday, December 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, December 4th. Finally, Morgan Stanley cut their price target on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating for the company in a report on Tuesday. Twenty-eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.46.

Salesforce Price Performance

Shares of CRM opened at $262.34 on Friday. The firm has a 50-day simple moving average of $245.50 and a two-hundred day simple moving average of $252.26. The stock has a market cap of $245.81 billion, a PE ratio of 35.03, a P/E/G ratio of 1.96 and a beta of 1.25. Salesforce Inc. has a 1-year low of $221.96 and a 1-year high of $367.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter last year, the company posted $2.41 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be paid a $0.416 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.6%. Salesforce’s payout ratio is presently 22.16%.

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.