Core Wealth Advisors Inc. Sells 1,383 Shares of Salesforce Inc. $CRM

Key Points

• Core Wealth Advisors Inc. reduced its Salesforce holdings by 16.7%, now owning 6,916 shares worth approximately $1.86 million, making it 21st in their portfolio.
• Salesforce received a range of price target updates from analysts, with Morgan Stanley setting a target of $404 and the stock currently holding a consensus rating of "Moderate Buy."
• CEO Marc Benioff sold 2,250 shares recently for over $559,000, reflecting ongoing insider selling, while 3% of the company's stock is owned by insiders.

Core Wealth Advisors Inc. decreased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 16.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,916 shares of the CRM provider's stock after selling 1,383 shares during the period. Salesforce accounts for about 0.6% of Core Wealth Advisors Inc.'s portfolio, making the stock its 21st largest holding. Core Wealth Advisors Inc.'s holdings in Salesforce were worth $1,856,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Salesforce by 4.5% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 11,692 shares of the CRM provider's stock worth $3,138,000 after acquiring an additional 503 shares during the period. First Financial Bankshares Inc lifted its stake in Salesforce by 39.6% in the 1st quarter. First Financial Bankshares Inc now owns 77,292 shares of the CRM provider's stock valued at $20,742,000 after purchasing an additional 21,930 shares during the last quarter. One Wealth Capital Management LLC lifted its stake in Salesforce by 37.8% in the 1st quarter. One Wealth Capital Management LLC now owns 1,039 shares of the CRM provider's stock valued at $279,000 after purchasing an additional 285 shares during the last quarter. Flputnam Investment Management Co. lifted its stake in Salesforce by 19.7% in the 1st quarter. Flputnam Investment Management Co. now owns 95,730 shares of the CRM provider's stock valued at $25,690,000 after purchasing an additional 15,749 shares during the last quarter. Finally, Benchstone Capital Management LP lifted its stake in Salesforce by 119.9% in the 1st quarter. Benchstone Capital Management LP now owns 139,275 shares of the CRM provider's stock valued at $37,376,000 after purchasing an additional 75,937 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $251.66, for a total value of $566,235.00. Following the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,997,665,957.86. This represents a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 63,827 shares of company stock worth $16,342,398 in the last three months. Insiders own 3.00% of the company's stock.

Salesforce Stock Down 4.7%

NYSE CRM traded down $12.13 on Thursday, hitting $244.32. 27,370,655 shares of the company were exchanged, compared to its average volume of 7,420,574. The company has a market cap of $233.57 billion, a PE ratio of 38.23, a PEG ratio of 2.33 and a beta of 1.22. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The stock has a fifty day moving average of $256.61 and a 200-day moving average of $268.18. 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, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm earned $2.56 earnings per share. The firm'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. As a group, analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CRM. Barclays decreased their price target on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Robert W. Baird decreased their price target on shares of Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a research report on Thursday. Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday. Mizuho decreased their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Finally, DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target for the company in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $331.34.

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.