Salesforce Inc. $CRM Shares Acquired by Atalanta Sosnoff Capital LLC

Key Points

• Atalanta Sosnoff Capital LLC increased its stake in Salesforce Inc. by 3.5%, holding 190,438 shares valued at approximately $51.1 million, making it the fund's 27th largest position.
• Insider transactions included CEO Marc Benioff selling 2,250 shares for around $574,000, while insiders have collectively sold over 61,000 shares worth nearly $15.8 million in the last 90 days.
• As of now, institutional investors control 80.43% of Salesforce's stock, indicating strong institutional interest in the company.

Atalanta Sosnoff Capital LLC raised its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 3.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 190,438 shares of the CRM provider's stock after purchasing an additional 6,491 shares during the period. Salesforce accounts for about 1.2% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 27th largest position. Atalanta Sosnoff Capital LLC's holdings in Salesforce were worth $51,106,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter valued at about $25,000. Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $35,000. Capital A Wealth Management LLC boosted its holdings in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares in the last quarter. Finally, Abound Financial LLC purchased a new position in shares of Salesforce in the first quarter worth $31,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRM shares. Wells Fargo & Company decreased their price objective on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a research note on Thursday. Sanford C. Bernstein decreased their target price on shares of Salesforce from $255.00 to $221.00 and set an "underperform" rating for the company in a research note on Thursday. Canaccord Genuity Group decreased their target price on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $325.00 target price on shares of Salesforce in a research note on Thursday. Finally, Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.34.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 66,077 shares of company stock valued at $16,885,773 over the last 90 days. Corporate insiders own 3.00% of the company's stock.

Salesforce Trading Up 2.6%

Shares of CRM traded up $6.39 during mid-day trading on Friday, reaching $250.40. The stock had a trading volume of 13,010,920 shares, compared to its average volume of 9,763,446. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The business's fifty day moving average is $255.64 and its 200 day moving average is $267.08. The firm has a market cap of $239.39 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 2.21 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.34%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the firm posted $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 predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's dividend payout ratio is presently 25.98%.

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.