13,000 Shares in Salesforce Inc. $CRM Acquired by Ally Financial Inc.

Key Points

• Ally Financial Inc. has acquired 13,000 shares of Salesforce Inc. valued at approximately $3.48 million in the first quarter.
• Salesforce reported a quarterly earnings per share (EPS) of $2.58, exceeding analyst estimates of $2.55, with a revenue of $9.83 billion for the quarter.
• The consensus rating for Salesforce is "Moderate Buy," with analysts predicting a price target of $342.89 for its shares.

Ally Financial Inc. acquired a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,000 shares of the CRM provider's stock, valued at approximately $3,489,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Apexium Financial LP lifted its holdings in Salesforce by 8.9% during the 1st quarter. Apexium Financial LP now owns 1,793 shares of the CRM provider's stock worth $481,000 after buying an additional 146 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Salesforce by 79.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,421 shares of the CRM provider's stock worth $650,000 after buying an additional 1,075 shares in the last quarter. Mirova lifted its holdings in Salesforce by 5.7% during the 1st quarter. Mirova now owns 18,858 shares of the CRM provider's stock worth $5,061,000 after buying an additional 1,016 shares in the last quarter. Comerica Bank lifted its holdings in Salesforce by 0.9% during the 1st quarter. Comerica Bank now owns 213,591 shares of the CRM provider's stock worth $57,319,000 after buying an additional 1,910 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its holdings in Salesforce by 61.3% during the 1st quarter. Freedom Investment Management Inc. now owns 4,181 shares of the CRM provider's stock worth $1,122,000 after buying an additional 1,589 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE:CRM opened at $248.0150 on Friday. The company's fifty day moving average price is $258.37 and its 200 day moving average price is $271.92. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $237.10 billion, a P/E ratio of 38.81, a P/E/G ratio of 2.25 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the business earned $2.44 EPS. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's payout ratio is currently 25.98%.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Oppenheimer restated an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a report on Tuesday, June 10th. Westpark Capital restated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Mizuho reduced their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Finally, Northland Securities dropped their price target on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $342.89.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 52,577 shares of company stock valued at $13,528,188 in the last quarter. Insiders own 3.00% of the company's stock.

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.