Benin Management CORP Takes $444,000 Position in Salesforce Inc. $CRM

Key Points

• Benin Management CORP has acquired a new stake in Salesforce Inc. valued at approximately $444,000, purchasing 1,627 shares in the second quarter.
• Salesforce's CEO, Marc Benioff, sold 2,250 shares worth around $567,630, which is a small decrease in his overall stake in the company.
• The company announced a quarterly dividend of $0.416 per share, representing an annualized payout of $1.66 with a yield of 0.6%.

Benin Management CORP acquired a new stake in Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,627 shares of the CRM provider's stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CRM. Painted Porch Advisors LLC raised its holdings in shares of Salesforce by 260.0% in the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock valued at $25,000 after purchasing an additional 65 shares in the last quarter. Capital A Wealth Management LLC grew its position 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 during the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of 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 last quarter. Abound Financial LLC purchased a new position in shares of Salesforce in the 1st quarter valued at $31,000. Finally, Christopher J. Hasenberg Inc grew its position in shares of Salesforce by 383.3% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider's stock valued at $32,000 after buying an additional 92 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $252.28, for a total value of $567,630.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,005,051,131.88. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 78,750 shares of company stock valued at $19,448,213. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their target price on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 4th. KeyCorp dropped their target price on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Oppenheimer dropped their target price on shares of Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 26th. Canaccord Genuity Group dropped their target price on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Finally, Wall Street Zen raised shares of Salesforce from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Twenty-five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $325.23.

Salesforce Trading Up 3.6%

Shares of Salesforce stock opened at $263.51 on Wednesday. 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 quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $250.86 billion, a P/E ratio of 38.30, a PEG ratio of 2.13 and a beta of 1.19. The company's fifty day moving average is $245.46 and its two-hundred day moving average is $257.92.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter last year, the business earned $2.56 EPS. The business's 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. Analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current 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 paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is 24.13%.

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.

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