Bey Douglas LLC boosted its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 33.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,616 shares of the CRM provider's stock after buying an additional 5,191 shares during the quarter. Salesforce accounts for approximately 3.4% of Bey Douglas LLC's investment portfolio, making the stock its 13th largest position. Bey Douglas LLC's holdings in Salesforce were worth $5,622,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of CRM. Vanguard Group Inc. boosted its stake in shares of Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after purchasing an additional 1,383,942 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Salesforce by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock worth $2,484,616,000 after acquiring an additional 600,386 shares during the period. Goldman Sachs Group Inc. lifted its stake in Salesforce by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock worth $2,419,037,000 after acquiring an additional 437,435 shares during the period. Nuveen LLC purchased a new stake in Salesforce in the first quarter worth about $2,039,196,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Salesforce by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock worth $1,707,316,000 after purchasing an additional 295,681 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $239.79, for a total value of $539,527.50. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $2,856,275,610.09. This represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 78,750 shares of company stock valued at $19,634,805. Corporate insiders own 3.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $430.00 target price on shares of Salesforce in a report on Tuesday, September 2nd. Weiss Ratings restated a "hold (c+)" rating on shares of Salesforce in a report on Saturday, September 27th. DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price objective on the stock in a report on Friday, August 15th. Citigroup upped their price objective on shares of Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Finally, Canaccord Genuity Group cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, September 4th. Twenty-six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $331.89.
View Our Latest Analysis on Salesforce
Salesforce Price Performance
Shares of NYSE CRM opened at $242.11 on Friday. The business's 50 day moving average price is $244.68 and its 200 day moving average price is $258.93. The firm has a market cap of $230.49 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.12 and a beta of 1.19. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM - Get Free Report) last issued its 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. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.56 earnings per share. 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 expect that Salesforce Inc. will post 7.46 earnings per share for the current year.
Salesforce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce's dividend payout ratio is currently 24.13%.
Salesforce Company Profile
(
Free Report)
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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