APG Asset Management N.V. Buys 17,877 Shares of Salesforce Inc. $CRM

Key Points

• APG Asset Management N.V. increased its holdings in Salesforce Inc. by 2.0% during the first quarter, acquiring an additional 17,877 shares, bringing its total to 930,732 shares.
• Salesforce reported earnings of $2.58 per share for the last quarter, exceeding analysts' expectations of $2.55, with revenue increasing by 7.6% year-over-year.
• Insiders, including CEO Marc Benioff, sold 52,577 shares recently, indicating ongoing trading activity among top executives, while institutional investors hold 80.43% of stock ownership.

APG Asset Management N.V. increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 930,732 shares of the CRM provider's stock after acquiring an additional 17,877 shares during the period. Salesforce comprises 0.7% of APG Asset Management N.V.'s portfolio, making the stock its 26th biggest position. APG Asset Management N.V. owned about 0.10% of Salesforce worth $231,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AIA Group Ltd lifted its stake in shares of Salesforce by 8.0% during the 1st quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider's stock worth $8,825,000 after acquiring an additional 2,436 shares during the last quarter. Notis McConarty Edward lifted its stake in shares of Salesforce by 71.6% during the 1st quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock worth $1,032,000 after acquiring an additional 1,604 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of Salesforce by 1.5% during the 1st quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider's stock worth $274,802,000 after acquiring an additional 15,782 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of Salesforce by 43.0% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider's stock worth $28,133,000 after acquiring an additional 31,537 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its stake in shares of Salesforce by 121.9% during the 1st quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock worth $95,222,000 after acquiring an additional 195,000 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total transaction of $578,295.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,061,511,978.42. The trade was a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 52,577 shares of company stock valued at $13,528,188. Company insiders own 3.00% of the company's stock.

Salesforce Trading Up 0.9%

Shares of NYSE:CRM opened at $248.0150 on Friday. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The business's fifty day simple moving average is $258.37 and its 200-day simple moving average is $272.44. The company has a market capitalization of $237.10 billion, a PE ratio of 38.81, a P/E/G ratio of 2.23 and a beta of 1.37. 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 (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the business posted $2.44 EPS. The business's revenue 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, equities research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Stephens decreased their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $404.00 target price (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Piper Sandler lifted their target price on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Finally, Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Four analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $342.89.

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.

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.