Envestnet Asset Management Inc. Sells 84,144 Shares of Salesforce Inc. $CRM

Envestnet Asset Management Inc. reduced its stake in Salesforce Inc. (NYSE:CRM) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,505,306 shares of the CRM provider’s stock after selling 84,144 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Salesforce worth $410,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Nuveen LLC purchased a new position in shares of Salesforce in the 1st quarter worth $2,039,196,000. Longview Partners Guernsey LTD purchased a new position in shares of Salesforce in the 1st quarter worth $467,944,000. Pacer Advisors Inc. grew its stake in shares of Salesforce by 1,744.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider’s stock worth $488,486,000 after buying an additional 1,721,550 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Salesforce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider’s stock worth $23,592,501,000 after buying an additional 1,383,942 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of Salesforce in the 1st quarter worth $345,100,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 shares were sold at an average price of $259.01, for a total value of $582,772.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,085,216,004.71. The trade was a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 76,500 shares of company stock valued at $18,819,383. Insiders own 3.00% of the company’s stock.

Salesforce Trading Down 0.0%

Shares of CRM opened at $254.93 on Monday. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The company has a 50-day moving average of $246.53 and a 200 day moving average of $258.12. The firm has a market capitalization of $242.69 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.14 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating 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 company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business posted $2.56 EPS. The firm’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. On average, research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

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

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. KeyCorp dropped their price target on shares of Salesforce from $440.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, September 4th. Citigroup lifted their price target on shares of Salesforce from $275.00 to $276.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. dropped their price target on shares of Salesforce from $380.00 to $365.00 and set an “overweight” rating for the company in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Salesforce in a research note on Tuesday, October 14th. Finally, BMO Capital Markets dropped their price target on shares of Salesforce from $335.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Twenty-five 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $325.23.

Salesforce 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.