19,720 Shares in Salesforce Inc. $CRM Acquired by Lee Danner & Bass Inc.

Key Points

• Lee Danner & Bass Inc. purchased 19,720 shares of Salesforce Inc. (NYSE: CRM) valued at approximately $5.37 million in the second quarter, according to their 13F filing.
• Salesforce's quarterly earnings report showed that it surpassed analyst estimates with $2.91 earnings per share and revenue of $10.24 billion, a 9.8% increase year-over-year.
• The company recently announced a quarterly dividend of $0.416 per share, translating to an annualized dividend of $1.66 and a yield of 0.6%.

Lee Danner & Bass Inc. purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,720 shares of the CRM provider's stock, valued at approximately $5,377,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after buying an additional 1,383,942 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 period. Goldman Sachs Group Inc. boosted its position 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 during the period. Nuveen LLC purchased a new position in shares of Salesforce during the first quarter worth $2,039,196,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Salesforce by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock valued at $1,707,316,000 after acquiring an additional 295,681 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.6%

Salesforce stock opened at $256.59 on Friday. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $244.27 billion, a PE ratio of 37.25, a P/E/G ratio of 2.15 and a beta of 1.19. The stock's fifty day moving average is $246.28 and its two-hundred day moving average is $257.99.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The company had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period last year, the firm earned $2.56 earnings per share. Salesforce's quarterly revenue 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. On average, sell-side analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were given a dividend of $0.416 per share. The ex-dividend date was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.6%. Salesforce's payout ratio is 24.13%.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $259.01, for a total transaction of $582,772.50. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,085,216,004.71. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 78,750 shares of company stock worth $19,424,880 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Roth Capital reiterated a "buy" rating and issued a $395.00 price objective on shares of Salesforce in a research note on Thursday, September 4th. Wells Fargo & Company reduced their price objective on Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 4th. UBS Group reduced their price objective on Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. KeyCorp reduced their price objective on Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. Finally, Barclays reduced their price objective on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Twenty-five research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $325.23.

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.

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