Elite Wealth Management Inc. Has $3.13 Million Stock Position in Salesforce Inc. $CRM

Key Points

• Elite Wealth Management Inc. has reduced its stake in Salesforce Inc. (NYSE:CRM) by 32.4%, now holding 11,477 shares valued at approximately $3.13 million, which makes Salesforce 1.0% of its total holdings.
• Salesforce's CEO, Marc Benioff, sold 2,250 shares on October 8th for about $539,527.50, decreasing his ownership by 0.02%, while insiders collectively sold 78,750 shares valued at $19.6 million in the last quarter.
• Salesforce recently reported earnings of $2.91 per share, exceeding analysts' expectations, with revenue reaching $10.24 billion for the quarter, a 9.8% increase year-over-year.

Elite Wealth Management Inc. reduced its position in Salesforce Inc. (NYSE:CRM - Free Report) by 32.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,477 shares of the CRM provider's stock after selling 5,509 shares during the period. Salesforce comprises 1.0% of Elite Wealth Management Inc.'s holdings, making the stock its 12th largest position. Elite Wealth Management Inc.'s holdings in Salesforce were worth $3,130,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CRM. Brighton Jones LLC lifted its stake in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC lifted its position 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 acquiring an additional 205 shares during the last quarter. Bison Wealth LLC lifted its position in Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after acquiring an additional 184 shares during the last quarter. GAMMA Investing LLC lifted its position in Salesforce by 13.9% during the first quarter. GAMMA Investing LLC now owns 14,166 shares of the CRM provider's stock worth $3,802,000 after acquiring an additional 1,725 shares during the last quarter. Finally, USA Financial Formulas lifted its position in Salesforce by 5.7% during the first quarter. USA Financial Formulas now owns 799 shares of the CRM provider's stock worth $214,000 after acquiring an additional 43 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce 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 $2,856,275,610.09. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 78,750 shares of company stock valued at $19,634,805 in the last quarter. Company insiders own 3.00% of the company's stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $244.92 on Friday. The company's 50 day simple moving average is $244.86 and its 200 day simple moving average is $259.25. The stock has a market capitalization of $233.16 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $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. As a group, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $325.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. JMP Securities restated a "market outperform" rating and set a $430.00 price objective on shares of Salesforce in a research report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. UBS Group cut their price objective on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $331.89.

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.

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