Mainstay Capital Management LLC ADV Purchases 5,961 Shares of Salesforce Inc. $CRM

Mainstay Capital Management LLC ADV boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 107.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,534 shares of the CRM provider's stock after purchasing an additional 5,961 shares during the quarter. Mainstay Capital Management LLC ADV's holdings in Salesforce were worth $3,145,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Salesforce by 1.6% in the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock worth $23,592,501,000 after acquiring an additional 1,383,942 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Salesforce by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock worth $2,484,616,000 after purchasing an additional 600,386 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Salesforce by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock valued at $2,419,037,000 after buying an additional 437,435 shares in the last quarter. Nuveen LLC purchased a new position in shares of Salesforce during the 1st quarter valued at about $2,039,196,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Salesforce by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock valued at $1,707,316,000 after buying an additional 295,681 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. BMO Capital Markets decreased their target price on Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Citigroup boosted their target price on Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. Robert W. Baird dropped their price objective on Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a report on Thursday, September 4th. Piper Sandler dropped their price objective on Salesforce from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Salesforce from $400.00 to $340.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Twenty-six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $332.58.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $241.32, for a total transaction of $542,970.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,874,500,313.72. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 78,750 shares of company stock worth $19,679,535 over the last quarter. 3.00% of the stock is owned by company insiders.

Salesforce Trading Up 0.2%

Salesforce stock opened at $240.23 on Thursday. The stock has a 50-day moving average of $245.13 and a two-hundred day moving average of $259.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00. The stock has a market cap of $228.70 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business 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. On average, research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio (DPR) 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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