Jacobs & Co. CA Takes $8.98 Million Position in Salesforce Inc. $CRM

Key Points

• Jacobs & Co. CA has acquired 32,934 shares of Salesforce Inc., valued at approximately $8,980,000, as per its latest SEC filing.
• Salesforce's stock price is currently around $242.68 with a market cap of $231.03 billion, and the company recently reported earnings that exceeded analysts' expectations.
• The firm has announced a quarterly dividend of $0.416 per share, resulting in an annualized dividend yield of 0.7%.

Jacobs & Co. CA bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 32,934 shares of the CRM provider's stock, valued at approximately $8,980,000.

Other large investors have also made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the 4th quarter worth $25,000. Wood Tarver Financial Group LLC acquired a new stake in Salesforce in the 4th quarter valued at $35,000. Capital A Wealth Management LLC raised its position in Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. CBIZ Investment Advisory Services LLC raised its position in Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the period. Finally, Abound Financial LLC purchased a new position in Salesforce in the first quarter valued at about $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Canaccord Genuity Group cut their price objective on Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Stifel Nicolaus cut their price objective on Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. The Goldman Sachs Group raised their price objective on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Wells Fargo & Company lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, twenty-six 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Stock Down 1.5%

NYSE:CRM traded down $3.60 during mid-day trading on Friday, reaching $242.68. The stock had a trading volume of 8,382,442 shares, compared to its average volume of 9,753,270. The company has a market capitalization of $231.03 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The stock's 50 day simple moving average is $253.21 and its two-hundred day simple moving average is $264.29. 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 (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter last year, the company posted $2.56 earnings per share. Salesforce'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. Equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,061,511,978.42. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Blair Kirk bought 3,400 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the acquisition, the director directly owned 3,824 shares of the company's stock, valued at $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 70,577 shares of company stock worth $18,005,778 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

About Salesforce

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.