Salesforce Inc. $CRM Shares Sold by Chiron Capital Management LLC

Chiron Capital Management LLC trimmed its position in Salesforce Inc. (NYSE:CRM) by 60.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,391 shares of the CRM provider’s stock after selling 5,100 shares during the quarter. Chiron Capital Management LLC’s holdings in Salesforce were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Salesforce in the 2nd quarter worth approximately $11,396,844,000. Arrowstreet Capital Limited Partnership grew its position in Salesforce by 130.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after purchasing an additional 7,160,302 shares during the period. Bank of America Corp DE boosted its stake in shares of Salesforce by 28.0% in the first quarter. Bank of America Corp DE now owns 11,724,790 shares of the CRM provider’s stock worth $2,188,666,000 after buying an additional 2,561,923 shares during the last quarter. Legal & General Group Plc acquired a new position in Salesforce in the second quarter valued at approximately $927,332,000. Finally, Bank of New York Mellon Corp acquired a new position in Salesforce in the second quarter valued at approximately $844,928,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 3.6%

Salesforce stock traded up $8.50 during trading on Thursday, hitting $244.45. The company had a trading volume of 4,412,376 shares, compared to its average volume of 13,552,994. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The company’s 50 day simple moving average is $229.31 and its 200-day simple moving average is $194.02. The stock has a market cap of $201.18 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.08 and a beta of 1.26.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same quarter in the previous year, the business earned $2.91 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, analysts expect that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Salesforce’s dividend payout ratio is 16.04%.

Insider Activity

In related news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Blair Kirk bought 4,176 shares of Salesforce stock in a transaction on Friday, September 18th. The shares were acquired at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the acquisition, the director owned 18,748 shares in the company, valued at $4,486,958.84. This represents a 28.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CRM shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Salesforce in a research note on Monday. They set a “buy” rating on the stock. Oppenheimer reiterated an “outperform” rating on shares of Salesforce in a research note on Thursday, September 17th. TD Cowen assumed coverage on Salesforce in a research report on Monday. They set a “buy” rating on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $250.00 target price on shares of Salesforce in a research report on Thursday, September 17th. Finally, Wall Street Zen lowered Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $278.12.

Salesforce Profile

Salesforce, Inc (NYSE: CRM) develops cloud-based customer relationship management (CRM) software and enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, analytics, data integration and collaboration through subscription-based services.

The company’s product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Salesforce Platform, Data Cloud and Tableau. Salesforce also offers MuleSoft integration technology, Slack collaboration software and artificial intelligence capabilities through its Einstein platform.