Cove Private Wealth LLC Boosts Stock Holdings in Salesforce Inc. $CRM

Key Points

• Cove Private Wealth LLC increased its stake in Salesforce Inc. by 20.2% in the 2nd quarter, owning 8,391 shares valued at approximately $2.29 million.
• The company reported quarterly earnings of $2.91 per share, exceeding analysts' expectations, with a revenue of $10.24 billion, reflecting a year-over-year increase of 9.8%.
• Salesforce announced a quarterly dividend of $0.416 per share, scheduled for payment on October 9th, reflecting a dividend yield of 0.7%.

Cove Private Wealth LLC raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,391 shares of the CRM provider's stock after purchasing an additional 1,409 shares during the period. Salesforce accounts for about 0.8% of Cove Private Wealth LLC's holdings, making the stock its 28th biggest position. Cove Private Wealth LLC's holdings in Salesforce were worth $2,288,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Coign Capital Advisors LLC grew its stake in Salesforce by 1.7% during the first quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after acquiring an additional 37 shares in the last quarter. Staley Capital Advisers Inc. grew its stake in Salesforce by 1.1% during the first quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock valued at $897,000 after acquiring an additional 38 shares in the last quarter. KDT Advisors LLC grew its stake in Salesforce by 4.1% during the first quarter. KDT Advisors LLC now owns 967 shares of the CRM provider's stock valued at $260,000 after acquiring an additional 38 shares in the last quarter. Liberty One Investment Management LLC grew its stake in Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after acquiring an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its stake in Salesforce by 7.3% during the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock valued at $154,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 1.1%

Shares of CRM opened at $243.58 on Friday. The firm has a market cap of $231.89 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The firm has a 50 day moving average price of $249.32 and a 200-day moving average price of $261.69.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.56 EPS. 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, equities research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 17th. Salesforce's payout ratio is presently 24.13%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $245.85, for a total value of $553,162.50. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,928,459,730.35. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Blair Kirk bought 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the purchase, the director owned 3,824 shares of the company's stock, valued at $973,819.84. This trade represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 78,750 shares of company stock valued at $19,955,745. Company insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets dropped their target price on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Salesforce from $400.00 to $340.00 and set a "buy" rating for the company in a research report on Thursday, September 4th. Barclays dropped their target price 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. Citigroup lifted their target price on shares of Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. Finally, DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 target price for the company in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $332.58.

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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