Allstate Corp Boosts Holdings in Salesforce Inc. $CRM

Key Points

• Allstate Corp increased its holdings in Salesforce Inc. by 21.5%, now owning 34,476 shares valued at approximately $9.25 million.
• Recent analyst ratings show a mixed outlook for Salesforce, with four analysts rating it as a Strong Buy and a target price average of $342.89, despite recent price target cuts from other institutions.
• Salesforce's quarterly earnings exceeded expectations with an EPS of $2.58, and the company has provided FY 2026 guidance of 11.270-11.330 EPS.

Allstate Corp boosted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,476 shares of the CRM provider's stock after acquiring an additional 6,108 shares during the period. Allstate Corp's holdings in Salesforce were worth $9,252,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at $27,000. Capital A Wealth Management LLC increased its stake in Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after buying an additional 85 shares during the period. Finally, Abound Financial LLC purchased a new position in shares of Salesforce during the 1st quarter worth about $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target for the company in a research report on Friday, August 15th. Stephens cut their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Citigroup lowered their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Royal Bank Of Canada restated a "sector perform" rating and issued a $275.00 price objective on shares of Salesforce in a report on Monday. Finally, Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Four analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $342.89.

Salesforce Trading Down 0.3%

NYSE CRM opened at $245.7830 on Friday. The stock has a market cap of $234.97 billion, a P/E ratio of 38.46, a PEG ratio of 2.24 and a beta of 1.37. The company's fifty day simple moving average is $258.58 and its 200-day simple moving average is $273.10. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 EPS. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. Equities research analysts predict that Salesforce Inc. will post 7.46 EPS 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 dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is 25.98%.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $246.07, for a total transaction of $553,657.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,931,080,275.97. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 52,577 shares of company stock worth $13,528,188. 3.00% of the stock is owned by 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.

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