International Assets Investment Management LLC Decreases Stake in Salesforce Inc. $CRM

Key Points

• International Assets Investment Management LLC has reduced its stake in Salesforce Inc. by 30.7%, owning 2,436 shares valued at $664,000 as of its latest SEC filing.
• Several hedge funds, including Nuveen LLC and Pacer Advisors Inc., have significantly increased their positions in Salesforce during the first quarter, indicating growing institutional interest in the company.
• Salesforce reported a 9.8% year-over-year increase in revenue during its latest quarter, with earnings per share of $2.91, surpassing analyst expectations of $2.78.

International Assets Investment Management LLC lowered its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,436 shares of the CRM provider's stock after selling 1,081 shares during the quarter. International Assets Investment Management LLC's holdings in Salesforce were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CRM. Nuveen LLC purchased a new position in shares of Salesforce in the first quarter worth $2,039,196,000. Longview Partners Guernsey LTD purchased a new stake in Salesforce during the first quarter valued at $467,944,000. Pacer Advisors Inc. increased its position in Salesforce by 1,744.0% during the first quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock valued at $488,486,000 after acquiring an additional 1,721,550 shares during the last quarter. Vanguard Group Inc. increased its position in Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after acquiring an additional 1,383,942 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Salesforce during the first quarter valued at $345,100,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Transactions at Salesforce

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 stock was bought at an average cost of $254.66 per share, with a total value of $865,844.00. Following the completion of the purchase, the director owned 3,824 shares in the company, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $241.49, for a total value of $543,352.50. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $2,876,525,280.79. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,750 shares of company stock valued at $19,480,343. Corporate insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird reduced their price objective on Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Bank of America reduced their price objective on Salesforce from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Tuesday, August 26th. KeyCorp reduced their price objective on Salesforce from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Thursday, September 4th. BMO Capital Markets reduced their price objective on Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Finally, Royal Bank Of Canada reduced their price objective on Salesforce from $275.00 to $250.00 and set a "sector perform" rating for the company in a research report on Thursday, September 4th. Twenty-five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $325.23.

Salesforce Stock Performance

NYSE CRM opened at $254.31 on Tuesday. The firm has a market cap of $242.10 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $244.81 and a 200-day moving average price of $257.89. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released 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 return on equity of 13.27% and a net margin of 16.87%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company 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, equities research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

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

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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