FUKOKU MUTUAL LIFE INSURANCE Co Buys 2,883 Shares of Salesforce Inc. $CRM

FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Salesforce Inc. (NYSE:CRM) by 73.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,799 shares of the CRM provider’s stock after buying an additional 2,883 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Salesforce were worth $1,854,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Salesforce by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 88,823,481 shares of the CRM provider’s stock worth $24,221,275,000 after purchasing an additional 909,853 shares in the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 0.6% in the second quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock valued at $5,669,224,000 after buying an additional 114,504 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Salesforce by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider’s stock worth $2,484,616,000 after buying an additional 600,386 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Salesforce by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider’s stock worth $2,419,037,000 after buying an additional 437,435 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Salesforce in the first quarter valued at approximately $2,039,196,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David Blair Kirk bought 3,400 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were purchased at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the purchase, the director owned 3,824 shares of the company’s stock, valued at $973,819.84. This represents a 801.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $242.39, for a total value of $545,377.50. Following the transaction, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $2,887,245,694.69. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 63,122 shares of company stock worth $15,615,413. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America decreased their price target on Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday. Robert W. Baird decreased their target price on Salesforce from $365.00 to $325.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Citigroup lifted their price target on Salesforce from $275.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Stifel Nicolaus reduced their price target on shares of Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Finally, Macquarie restated a “neutral” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Thursday, October 16th. Twenty-five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $323.51.

Salesforce Price Performance

Shares of CRM stock opened at $227.59 on Thursday. The firm has a market cap of $216.67 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.11 and a beta of 1.19. Salesforce Inc. has a 12 month low of $225.06 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 $245.53 and a 200 day moving average price of $256.75.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm earned $2.56 EPS. The company’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. Research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

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