NorthRock Partners LLC Sells 3,419 Shares of Salesforce Inc. $CRM

Key Points

• NorthRock Partners LLC sold 3,419 shares of Salesforce Inc., reducing its holdings by 16.3% during the second quarter, with remaining shares valued at approximately $4.8 million.
• Salesforce reported earnings of $2.91 per share, beating analyst expectations, and generated revenue of $10.24 billion for the quarter, reflecting a year-over-year increase of 9.8%.
• The company has recently announced a quarterly dividend of $0.416 per share, equating to an annualized yield of 0.7% and a payout ratio of 24.13%.

NorthRock Partners LLC decreased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 16.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,581 shares of the CRM provider's stock after selling 3,419 shares during the quarter. NorthRock Partners LLC's holdings in Salesforce were worth $4,802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coign Capital Advisors LLC boosted its holdings in shares of Salesforce by 1.7% in the 1st quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after buying an additional 37 shares during the last quarter. Staley Capital Advisers Inc. lifted its holdings in Salesforce by 1.1% during the 1st quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock valued at $897,000 after purchasing an additional 38 shares during the last quarter. KDT Advisors LLC lifted its holdings in Salesforce by 4.1% during the 1st quarter. KDT Advisors LLC now owns 967 shares of the CRM provider's stock valued at $260,000 after purchasing an additional 38 shares during the last quarter. Liberty One Investment Management LLC lifted its holdings in shares of Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after buying an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its holdings in shares of Salesforce by 7.3% during the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after buying an additional 39 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Capital reissued a "buy" rating and set a $395.00 target price on shares of Salesforce in a report on Thursday, September 4th. Piper Sandler dropped their target price on Salesforce from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. Canaccord Genuity Group dropped their target price on Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Morgan Stanley lifted their target price on Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Finally, Robert W. Baird dropped their target price on Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a report on Thursday, September 4th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $331.89.

Salesforce Stock Performance

Salesforce stock opened at $242.11 on Monday. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. 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 business's 50-day moving average price is $244.68 and its two-hundred day moving average price is $258.64. The stock has a market cap of $230.49 billion, a PE ratio of 35.19, a P/E/G ratio of 2.09 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the previous year, the business posted $2.56 earnings per share. The business's revenue for the quarter 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. As a group, analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $239.79, for a total transaction of $539,527.50. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,856,275,610.09. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 76,500 shares of company stock worth $19,049,130 in the last quarter. Insiders own 3.00% of the company's stock.

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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