Globeflex Capital L P Raises Position in Salesforce Inc. $CRM

Globeflex Capital L P lifted its position in Salesforce Inc. (NYSE:CRM) by 1,970.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,424 shares of the CRM provider’s stock after buying an additional 11,824 shares during the period. Globeflex Capital L P’s holdings in Salesforce were worth $3,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. KDT Advisors LLC raised its holdings in Salesforce by 4.1% in 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 last quarter. Scott & Selber Inc. increased its holdings in shares of Salesforce by 0.7% in the 2nd quarter. Scott & Selber Inc. now owns 5,850 shares of the CRM provider’s stock worth $1,595,000 after purchasing an additional 39 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Salesforce by 6.9% in the second quarter. Hanson & Doremus Investment Management now owns 607 shares of the CRM provider’s stock worth $166,000 after purchasing an additional 39 shares during the last quarter. Beverly Hills Private Wealth LLC lifted its holdings in shares of Salesforce by 2.3% during the second quarter. Beverly Hills Private Wealth LLC now owns 1,716 shares of the CRM provider’s stock valued at $468,000 after purchasing an additional 39 shares in the last quarter. Finally, Lifeworks Advisors LLC boosted its position in shares of Salesforce by 2.9% during the second quarter. Lifeworks Advisors LLC now owns 1,420 shares of the CRM provider’s stock valued at $387,000 after buying an additional 40 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their target price on Salesforce from $280.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. Robert W. Baird decreased their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Thursday, December 4th. Roth Capital restated a “buy” rating and issued a $395.00 target price on shares of Salesforce in a report on Thursday, September 4th. KeyCorp cut their target price on shares of Salesforce from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. Finally, Macquarie increased their price target on Salesforce from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Twenty-eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.46.

Salesforce Trading Down 0.8%

Shares of Salesforce stock opened at $262.19 on Friday. Salesforce Inc. has a 1-year low of $221.96 and a 1-year high of $367.09. The company’s fifty day simple moving average is $245.06 and its 200-day simple moving average is $252.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $245.67 billion, a PE ratio of 35.01, a P/E/G ratio of 1.97 and a beta of 1.25.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the transaction, the insider owned 139,767 shares in the company, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Mason Morfit bought 96,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 2,994,509 shares in the company, valued at $780,309,155.22. This trade represents a 3.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 177,534 shares of company stock valued at $42,194,197 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

About Salesforce

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.