Kingswood Wealth Advisors LLC Has $2.81 Million Holdings in Salesforce Inc. $CRM

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Salesforce Inc. by 35.7%, holding $2.81 million worth of shares after selling 5,714 shares during the second quarter.
• Salesforce's CEO, Marc Benioff, recently sold 2,250 shares for approximately $566,865, while Director David Blair Kirk increased his holdings by 801.89% by purchasing 3,400 shares.
• Salesforce announced a quarterly dividend of $0.416, which will be paid to investors on October 9th, representing an annual yield of 0.7%.

Kingswood Wealth Advisors LLC cut its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 35.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,289 shares of the CRM provider's stock after selling 5,714 shares during the period. Kingswood Wealth Advisors LLC's holdings in Salesforce were worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Diversified Trust Co grew its stake in Salesforce by 30.1% in the 2nd quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider's stock valued at $7,577,000 after buying an additional 6,430 shares during the last quarter. Neville Rodie & Shaw Inc. grew its position in shares of Salesforce by 4.6% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 59,970 shares of the CRM provider's stock worth $16,353,000 after buying an additional 2,644 shares during the period. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Salesforce in the 1st quarter valued at $9,367,000. Jones Financial Companies Lllp raised its position in Salesforce by 31.2% in the 1st quarter. Jones Financial Companies Lllp now owns 344,887 shares of the CRM provider's stock valued at $93,016,000 after buying an additional 81,916 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its holdings in Salesforce by 6.8% during the second quarter. Wesbanco Bank Inc. now owns 110,968 shares of the CRM provider's stock worth $30,260,000 after acquiring an additional 7,091 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $251.94, for a total value of $566,865.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $3,001,001,197.74. This represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Blair Kirk purchased 3,400 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was acquired at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the purchase, the director directly owned 3,824 shares in the company, 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. Insiders have sold 78,750 shares of company stock worth $19,747,868 over the last three months. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRM shares. Wells Fargo & Company lowered their target price on shares of Salesforce from $275.00 to $265.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 4th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. Sanford C. Bernstein dropped their price target on Salesforce from $255.00 to $221.00 and set an "underperform" rating for the company in a research note on Thursday, September 4th. Wall Street Zen lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Friday. Finally, BMO Capital Markets dropped their price target on Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Stock Up 2.3%

Shares of CRM opened at $245.85 on Tuesday. 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 stock has a market cap of $234.05 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 2.08 and a beta of 1.19. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The company has a 50-day moving average price of $246.17 and a two-hundred day moving average price of $259.80.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results 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 company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous 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. Equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be 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 is Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) is currently 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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