High Note Wealth LLC Has $416,000 Holdings in Salesforce Inc. $CRM

Key Points

• High Note Wealth LLC reduced its holdings in Salesforce Inc. by 44.5%, now owning shares worth $416,000 at the end of the last quarter.
• Salesforce's Q2 earnings surpassed estimates, reporting $2.91 EPS on $10.24 billion in revenue, with a quarterly revenue growth of 9.8% year-over-year.
• The company declared a quarterly dividend of $0.416 per share, reflecting an annualized yield of 0.7%, with the payout ratio at 24.13%.

High Note Wealth LLC cut its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 44.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,525 shares of the CRM provider's stock after selling 1,222 shares during the period. High Note Wealth LLC's holdings in Salesforce were worth $416,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after purchasing an additional 3,102 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC grew its stake in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after buying an additional 184 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Salesforce by 23.2% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 5,273 shares of the CRM provider's stock worth $1,415,000 after buying an additional 992 shares during the period. Finally, Capital Investment Advisors LLC grew its stake in Salesforce by 4.1% in the first quarter. Capital Investment Advisors LLC now owns 7,020 shares of the CRM provider's stock valued at $1,884,000 after acquiring an additional 275 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, Director David Blair Kirk purchased 3,400 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director directly owned 3,824 shares of the company's stock, valued at $973,819.84. This trade represents a 801.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $251.94, for a total transaction of $566,865.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,001,001,197.74. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,750 shares of company stock valued at $19,747,868. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CRM. 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. BMO Capital Markets cut their price target on Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a research note on Thursday, September 4th. Wells Fargo & Company lowered their price objective on Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a research note on Thursday, September 4th. DA Davidson raised 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. Finally, Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, September 4th. Twenty-six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Trading Up 2.3%

Shares of Salesforce stock opened at $245.85 on Tuesday. The company's 50-day moving average price is $246.17 and its 200-day moving average price is $259.80. The company has a market cap of $234.05 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 2.08 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The company 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 firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $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. On average, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

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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