Callan Family Office LLC Purchases 12,000 Shares of Salesforce Inc. $CRM

Key Points

• Callan Family Office LLC increased its stake in Salesforce Inc. by 188.9%, acquiring an additional 12,000 shares during the second quarter, bringing their total to 18,351 shares worth $5,004,000.
• Salesforce recently announced a quarterly dividend of $0.416, representing an annualized rate of $1.66 and a yield of 0.7%.
• CEO Marc Benioff sold 2,250 shares of Salesforce stock recently for a total value of approximately $539,527.50, representing a minor decrease in his overall ownership.

Callan Family Office LLC grew its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 188.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,351 shares of the CRM provider's stock after acquiring an additional 12,000 shares during the period. Callan Family Office LLC's holdings in Salesforce were worth $5,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Vanguard Group Inc. raised its stake in Salesforce by 1.6% in the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after buying an additional 1,383,942 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 buying an additional 600,386 shares in the last quarter. Goldman Sachs Group Inc. raised 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 buying an additional 437,435 shares in the last quarter. Nuveen LLC bought a new position in Salesforce in the first quarter worth about $2,039,196,000. Finally, Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 295,681 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The shares were 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 trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 78,750 shares of company stock valued at $19,634,805 in the last 90 days. Company insiders own 3.00% of the company's stock.

Salesforce Trading Down 1.3%

NYSE:CRM opened at $242.11 on Friday. The company's 50 day moving average price is $244.68 and its 200-day moving average price is $258.93. 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. The stock has a market cap of $230.49 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.12 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last posted 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 13.27%. The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. The business's revenue for the quarter 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, equities research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were issued a $0.416 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio (DPR) is currently 24.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRM shares. JPMorgan Chase & Co. decreased their price target on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating for the company in a research note on Thursday, September 4th. 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, September 4th. Wall Street Zen raised shares of Salesforce from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company decreased their target price 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, September 4th. Finally, DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 target price for the company in a research note on Friday, August 15th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $331.89.

About Salesforce

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

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.