Salesforce Inc. $CRM Stake Boosted by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of Salesforce Inc. (NYSE:CRM) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,188 shares of the CRM provider’s stock after purchasing an additional 11,572 shares during the quarter. OLD National Bancorp IN’s holdings in Salesforce were worth $19,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Brighton Jones LLC boosted its holdings in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the period. Bison Wealth LLC lifted its position in Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after purchasing an additional 184 shares during the last quarter. Freedom Investment Management Inc. boosted its stake in Salesforce by 61.3% during the 1st quarter. Freedom Investment Management Inc. now owns 4,181 shares of the CRM provider’s stock valued at $1,122,000 after purchasing an additional 1,589 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Salesforce by 79.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,421 shares of the CRM provider’s stock worth $650,000 after purchasing an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRM. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Thursday, December 4th. BMO Capital Markets lowered their target price on Salesforce from $280.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. JPMorgan Chase & Co. reduced their price target on Salesforce from $380.00 to $365.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, December 4th. Finally, Northland Capmk downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $326.68.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director David Blair Kirk purchased 1,936 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were purchased at an average price of $258.64 per share, for a total transaction of $500,727.04. Following the completion of the transaction, the director owned 10,677 shares in the company, valued at $2,761,499.28. This represents a 22.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Mason Morfit purchased 96,000 shares of the company’s stock in a transaction on Friday, December 5th. The stock was bought at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the acquisition, the director directly owned 2,994,509 shares of the company’s stock, valued at $780,309,155.22. This represents a 3.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 170,784 shares of company stock valued at $40,538,939. 3.00% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 1.8%

Shares of Salesforce stock opened at $264.56 on Tuesday. The business has a fifty day simple moving average of $247.25 and a 200-day simple moving average of $251.65. Salesforce Inc. has a fifty-two week low of $221.96 and a fifty-two week high of $367.09. The firm has a market cap of $247.89 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.25. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the previous year, the business earned $2.41 earnings per share. Salesforce’s revenue for the quarter was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, equities analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be paid a dividend of $0.416 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.6%. Salesforce’s dividend payout ratio is currently 22.16%.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.