Osterweis Capital Management Inc. Sells 1,120 Shares of Salesforce Inc. $CRM

Key Points

• Osterweis Capital Management Inc. reduced its holdings in Salesforce by 1.0%, selling 1,120 shares during Q1 and retaining 115,614 shares valued at approximately $31 million.
• Salesforce's CEO, Marc Benioff, sold 2,250 shares at an average price of $260.30, decreasing his position by 0.02% and still retaining over $3.1 billion in stock.
• Despite some institutional investors decreasing their stakes, Salesforce remains heavily owned by institutions at 80.43%, which reflects continued investor interest in the company's future prospects.

Osterweis Capital Management Inc. trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,614 shares of the CRM provider's stock after selling 1,120 shares during the quarter. Osterweis Capital Management Inc.'s holdings in Salesforce were worth $31,026,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Coign Capital Advisors LLC grew its stake in Salesforce by 1.7% during the 1st quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after acquiring an additional 37 shares in the last quarter. Staley Capital Advisers Inc. grew its stake 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 acquiring an additional 38 shares in the last quarter. Liberty One Investment Management LLC grew its stake in Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after acquiring an additional 39 shares in the last quarter. First Command Advisory Services Inc. grew its stake in Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock valued at $154,000 after acquiring an additional 39 shares in the last quarter. Finally, Mendel Money Management grew its stake in Salesforce by 3.6% during the 1st quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock valued at $298,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $260.30, for a total value of $585,675.00. Following the transaction, the chief executive officer owned 11,955,566 shares of the company's stock, valued at approximately $3,112,033,829.80. This trade represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 51,032 shares of company stock valued at $13,171,536. Company insiders own 3.00% of the company's stock.

Salesforce Trading Up 0.7%

Shares of Salesforce stock opened at $245.6070 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The company's 50-day simple moving average is $259.40 and its 200-day simple moving average is $273.94. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The firm has a market cap of $234.80 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. As a group, equities research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio is 25.98%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. Barclays dropped their price objective on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a research note on Monday. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. UBS Group dropped their price target on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research note on Monday. Mizuho dropped their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Finally, Citigroup dropped their price target on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $342.89.

About Salesforce

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.