Belmont Capital LLC Purchases 1,570 Shares of Salesforce Inc. $CRM

Key Points

• Belmont Capital LLC increased its holdings in Salesforce Inc. by 31.4% during the first quarter, now owning 6,570 shares worth approximately $1.76 million.
• Many institutional investors are actively buying Salesforce shares, with ownership now reaching 80.43% of the company’s stock.
• Salesforce's stock has seen mixed ratings from analysts, with a consensus rating of Moderate Buy and a target price of $341.50.

Belmont Capital LLC lifted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 31.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,570 shares of the CRM provider's stock after purchasing an additional 1,570 shares during the period. Salesforce accounts for approximately 0.3% of Belmont Capital LLC's holdings, making the stock its 27th largest position. Belmont Capital LLC's holdings in Salesforce were worth $1,763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Banque Transatlantique SA increased its stake in shares of Salesforce by 350.0% in the 1st quarter. Banque Transatlantique SA now owns 284,518 shares of the CRM provider's stock worth $70,560,000 after purchasing an additional 221,290 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Salesforce by 63.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,844,437 shares of the CRM provider's stock worth $763,333,000 after purchasing an additional 1,099,627 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Salesforce by 61.3% in the 1st quarter. AQR Capital Management LLC now owns 528,953 shares of the CRM provider's stock worth $139,369,000 after purchasing an additional 201,004 shares in the last quarter. Atalanta Sosnoff Capital LLC increased its stake in shares of Salesforce by 3.5% in the 1st quarter. Atalanta Sosnoff Capital LLC now owns 190,438 shares of the CRM provider's stock worth $51,106,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Salesforce by 11.1% in the 1st quarter. Advisors Asset Management Inc. now owns 27,790 shares of the CRM provider's stock worth $7,458,000 after purchasing an additional 2,774 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 2.6%

Shares of NYSE:CRM traded up $6.39 during trading on Friday, reaching $250.40. The company's stock had a trading volume of 13,010,920 shares, compared to its average volume of 9,763,446. 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 12 month low of $226.48 and a 12 month high of $369.00. The firm's 50 day simple moving average is $255.64 and its two-hundred day simple moving average is $267.08. The stock has a market capitalization of $239.39 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 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 the consensus estimate of $10.14 billion. During the same quarter last year, the firm earned $2.56 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. Northland Securities cut their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. BMO Capital Markets cut their price target on Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a research note on Thursday. Wells Fargo & Company cut their price target on Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a research note on Thursday. Barclays cut their price target on Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. cut their price target on Salesforce from $380.00 to $365.00 and set an "overweight" rating for the company in a research note on Thursday. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $331.34.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 66,077 shares of company stock worth $16,885,773 in the last quarter. Insiders own 3.00% of the company's stock.

Salesforce 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.