Salesforce Inc. $CRM Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in Salesforce Inc. by 0.9%, acquiring an additional 1,910 shares, bringing its total holdings to 213,591 shares valued at approximately $57.3 million.
• In the past quarter, several large investors have significantly increased their positions in Salesforce, with notable increases of 926.4% and 30,456.9% by other institutional investors.
• Salesforce reported a Q1 EPS of $2.58, exceeding estimates, and set future EPS guidance, while its stock has a consensus target price of $342.89 from analysts.

Comerica Bank grew its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 213,591 shares of the CRM provider's stock after buying an additional 1,910 shares during the period. Comerica Bank's holdings in Salesforce were worth $57,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Brighton Jones LLC raised its holdings in shares of Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares in the last quarter. Jump Financial LLC purchased a new position in Salesforce during the fourth quarter worth about $361,000. Topsail Wealth Management LLC purchased a new position in Salesforce during the fourth quarter worth about $215,000. Finally, Lord Abbett & CO. LLC purchased a new position in Salesforce during the fourth quarter worth about $61,384,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. JMP Securities reissued a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a report on Friday, July 11th. Piper Sandler increased their price target on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Four analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $342.89.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $247.67, for a total value of $557,257.50. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,950,138,789.57. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 54,827 shares of company stock valued at $14,085,446 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of CRM stock traded down $0.54 during trading hours on Monday, hitting $247.75. The company's stock had a trading volume of 4,955,240 shares, compared to its average volume of 7,850,747. The business has a fifty day moving average of $258.06 and a 200-day moving average of $270.96. The stock has a market cap of $236.85 billion, a price-to-earnings ratio of 38.77, a P/E/G ratio of 2.25 and a beta of 1.37. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. 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 (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 earnings per share. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. As a group, equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio is currently 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.