Meitav Investment House Ltd. Purchases 75,644 Shares of Salesforce Inc. $CRM

Key Points

• Meitav Investment House Ltd. has increased its position in Salesforce Inc. by 56.7%, purchasing an additional 75,644 shares during the second quarter, bringing their total holdings to 209,041 shares valued at $57.04 million.
• Several institutional investors, including Vanguard and Goldman Sachs, have also enhanced their stakes in Salesforce, with 80.43% of the company's stock now owned by institutional investors.
• Salesforce declared a quarterly dividend of $0.416 per share, to be paid on October 9th, representing an annualized dividend yield of 0.7%.

Meitav Investment House Ltd. increased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 56.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 209,041 shares of the CRM provider's stock after purchasing an additional 75,644 shares during the quarter. Meitav Investment House Ltd.'s holdings in Salesforce were worth $57,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Salesforce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after purchasing an additional 1,383,942 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 valued at $2,484,616,000 after purchasing an additional 600,386 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Salesforce by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock valued at $2,419,037,000 after purchasing an additional 437,435 shares during the last quarter. Nuveen LLC acquired a new position in shares of Salesforce in the first quarter valued at approximately $2,039,196,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Salesforce by 4.9% in the first 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 purchasing an additional 295,681 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In related news, Director David Blair Kirk bought 3,400 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were purchased at an average price 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 approximately $973,819.84. This represents a 801.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $236.38, for a total transaction of $531,855.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $2,815,657,152.98. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,750 shares of company stock worth $19,747,868 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Salesforce Stock Performance

NYSE CRM opened at $245.85 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market capitalization 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. The firm's 50 day simple moving average is $246.17 and its 200 day simple moving average is $259.80. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly 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 business had revenue of $10.24 billion for 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $2.56 EPS. 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, research 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 given a dividend of $0.416 per share. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is currently 24.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America decreased their target price on Salesforce from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Tuesday, August 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, September 4th. Royal Bank Of Canada decreased their target price on Salesforce from $275.00 to $250.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 4th. DA Davidson raised Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 target price on the stock in a research report on Friday, August 15th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a report on Tuesday, September 2nd. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.58.

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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