Parisi Gray Wealth Management Sells 1,217 Shares of Salesforce Inc. $CRM

Key Points

• Parisi Gray Wealth Management reduced its holdings in Salesforce Inc. by 37.5%, selling 1,217 shares during the second quarter and bringing their total shares owned to 2,026, valued at approximately $553,000.
• CEO Marc Benioff sold 2,250 shares of Salesforce at an average price of $246.66, while Director David Blair Kirk purchased 3,400 shares at an average price of $254.66, marking an 801.89% increase in his ownership.
• Salesforce reported a quarterly revenue of $10.24 billion, exceeding analysts' expectations, with EPS at $2.91 for the quarter and a 9.8% year-over-year revenue increase.

Parisi Gray Wealth Management lowered its position in Salesforce Inc. (NYSE:CRM - Free Report) by 37.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,026 shares of the CRM provider's stock after selling 1,217 shares during the period. Parisi Gray Wealth Management's holdings in Salesforce were worth $553,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter valued at $25,000. Capital A Wealth Management LLC increased its stake in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its stake in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Abound Financial LLC bought a new stake in Salesforce during the 1st quarter valued at $31,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Salesforce during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $246.66, for a total value of $554,985.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $2,938,108,102.86. The trade was a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Blair Kirk purchased 3,400 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 70,577 shares of company stock worth $18,005,778. Company insiders own 3.00% of the company's stock.

Salesforce Stock Performance

NYSE:CRM opened at $242.68 on Monday. The stock has a market cap of $231.03 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. The firm's fifty day simple moving average is $253.21 and its 200 day simple moving average is $264.29. Salesforce Inc. has a twelve month low of $226.48 and a twelve 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.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating 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 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 EPS. The company's quarterly revenue 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, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRM. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, September 4th. The Goldman Sachs Group increased their target price on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $350.00 to $300.00 and set a "buy" rating for the company in a report on Thursday, September 4th. BMO Capital Markets cut their target price on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Finally, DA Davidson upgraded shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 target price for the company in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $332.58.

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.

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