Paloma Partners Management Co Trims Stock Position in Salesforce Inc. $CRM

Key Points

• Paloma Partners Management Co has decreased its stake in Salesforce Inc. by 49.4%, owning 45,107 shares after selling 44,093 during the first quarter.
• CEO Marc Benioff sold 2,250 shares at an average price of $257.02, amounting to $578,295, reducing his holdings by 0.02%.
• Salesforce’s stock has received a range of ratings from analysts, with a consensus target price of $341.47 and a mixture of buy and hold recommendations.

Paloma Partners Management Co trimmed its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 49.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,107 shares of the CRM provider's stock after selling 44,093 shares during the period. Salesforce comprises 1.5% of Paloma Partners Management Co's holdings, making the stock its 14th biggest holding. Paloma Partners Management Co's holdings in Salesforce were worth $12,105,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Coign Capital Advisors LLC grew its holdings 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 purchasing an additional 37 shares during the last quarter. Staley Capital Advisers Inc. grew its stake in Salesforce by 1.1% in the 1st quarter. Staley Capital Advisers Inc. now owns 3,343 shares of the CRM provider's stock worth $897,000 after acquiring an additional 38 shares in the last quarter. Liberty One Investment Management LLC lifted its position in shares of Salesforce by 1.2% in the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after purchasing an additional 39 shares during the period. First Command Advisory Services Inc. lifted its position in shares of Salesforce by 7.3% in the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after purchasing an additional 39 shares during the period. Finally, Mendel Money Management lifted its position in shares of Salesforce by 3.6% in the 1st quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock worth $298,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

CRM stock traded down $12.13 during midday trading on Thursday, hitting $244.32. 27,370,655 shares of the stock traded hands, compared to its average volume of 7,420,574. The firm has a market cap of $233.57 billion, a P/E ratio of 38.23, a PEG ratio of 2.33 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock's fifty day simple moving average is $256.61 and its 200-day simple moving average is $268.18. 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 announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business earned $2.56 earnings per share. The company'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 expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. 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 research report on Tuesday, August 26th. Morgan Stanley upped their price target on shares of Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday. Canaccord Genuity Group lowered their price target on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Thursday. Royal Bank Of Canada decreased their target price on shares of Salesforce from $275.00 to $250.00 and set a "sector perform" rating for the company in a research report on Thursday. Finally, Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $331.34.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total value of $578,295.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $3,061,511,978.42. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 63,827 shares of company stock valued at $16,342,398 over the last quarter. Company insiders own 3.00% of the company's stock.

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.