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Otter Creek Advisors LLC Has $4.72 Million Holdings in Salesforce Inc. $CRM

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Key Points

  • Otter Creek Advisors LLC significantly increased its stake in Salesforce Inc. by 47.8% in Q2, holding $4.72 million worth of shares, representing 3.3% of its investment portfolio.
  • Salesforce announced a quarterly dividend of $0.416 per share, with an annualized yield of 0.7%, reflecting a dividend payout ratio of 24.13%.
  • Despite a recent decrease in stock value, Salesforce continues to receive positive ratings, with 25 analysts rating it as a Buy and a consensus target price of $325.23.
  • MarketBeat previews the top five stocks to own by November 1st.

Otter Creek Advisors LLC raised its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 47.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,325 shares of the CRM provider's stock after acquiring an additional 5,600 shares during the quarter. Salesforce makes up approximately 3.3% of Otter Creek Advisors LLC's investment portfolio, making the stock its 5th largest position. Otter Creek Advisors LLC's holdings in Salesforce were worth $4,724,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in Salesforce by 30.1% in the 2nd quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider's stock valued at $7,577,000 after buying an additional 6,430 shares during the last quarter. Neville Rodie & Shaw Inc. raised its holdings in Salesforce by 4.6% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 59,970 shares of the CRM provider's stock valued at $16,353,000 after buying an additional 2,644 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new position in Salesforce in the 1st quarter valued at approximately $9,367,000. Jones Financial Companies Lllp raised its holdings in Salesforce by 31.2% in the 1st quarter. Jones Financial Companies Lllp now owns 344,887 shares of the CRM provider's stock valued at $93,016,000 after buying an additional 81,916 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in Salesforce by 6.8% in the 2nd quarter. Wesbanco Bank Inc. now owns 110,968 shares of the CRM provider's stock valued at $30,260,000 after buying an additional 7,091 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRM. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. KeyCorp dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Salesforce from $400.00 to $340.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Finally, Bank of America lowered their price target on shares of Salesforce from $350.00 to $325.00 and set a "buy" rating for the company in a report on Tuesday, August 26th. Twenty-five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $325.23.

Get Our Latest Stock Analysis on Salesforce

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 Wednesday, October 15th. The shares were sold at an average price of $238.37, for a total transaction of $536,332.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,839,361,179.27. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 78,750 shares of company stock worth $19,521,495. Company insiders own 3.00% of the company's stock.

Salesforce Stock Down 1.1%

Salesforce stock opened at $243.27 on Friday. The firm has a market cap of $231.59 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.13 and a beta of 1.19. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $244.38 and a two-hundred day moving average price of $257.87.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm 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. Equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders 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 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is 24.13%.

About Salesforce

(Free Report)

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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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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.

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