Moran Wealth Management LLC Sells 3,056 Shares of Salesforce Inc. $CRM

Key Points

• Moran Wealth Management LLC reduced its stake in Salesforce Inc. by 13.1%, selling 3,056 shares and bringing its total to 20,346 shares worth approximately $5.55 million.
• Salesforce's CEO, Marc Benioff, sold 2,250 shares of the company's stock for about $553,298, maintaining a significant position of over 11.9 million shares.
• Analysts show varying outlooks on Salesforce's stock, with a consensus price target of $328.22, while ratings range from "Buy" to "Hold."

Moran Wealth Management LLC trimmed its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,346 shares of the CRM provider's stock after selling 3,056 shares during the quarter. Moran Wealth Management LLC's holdings in Salesforce were worth $5,548,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CRM. Brighton Jones LLC lifted its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares during the last quarter. Bison Wealth LLC lifted its position in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after buying an additional 184 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Salesforce by 13.9% during the first quarter. GAMMA Investing LLC now owns 14,166 shares of the CRM provider's stock valued at $3,802,000 after buying an additional 1,725 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Salesforce by 156.2% during the first quarter. Exchange Traded Concepts LLC now owns 10,317 shares of the CRM provider's stock valued at $2,769,000 after buying an additional 6,290 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CRM shares. Oppenheimer decreased their price target on shares of Salesforce from $370.00 to $315.00 and set an "outperform" rating for the company in a research report on Tuesday, August 26th. Roth Capital reaffirmed a "buy" rating and issued a $395.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. Morgan Stanley increased their price objective on shares of Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. UBS Group decreased their price objective on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, Piper Sandler decreased their price objective on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating for the company in a research report on Thursday, September 4th. Twenty-five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $328.22.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $245.91, for a total transaction of $553,297.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,929,174,424.61. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 78,750 shares of company stock worth $19,572,233. 3.00% of the stock is owned by company insiders.

Salesforce Stock Performance

CRM opened at $239.87 on Wednesday. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. 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 $228.36 billion, a PE ratio of 34.87, a P/E/G ratio of 2.15 and a beta of 1.19. The firm has a 50 day moving average of $244.47 and a two-hundred day moving average of $258.36.

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 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 company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the firm posted $2.56 EPS. Salesforce's revenue for the quarter was up 9.8% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was 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%.

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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