Parr Mcknight Wealth Management Group LLC Decreases Stake in Salesforce Inc. $CRM

Key Points

• Parr Mcknight Wealth Management Group cut its Salesforce stake by 70.7% in the fourth quarter, selling 6,416 shares and leaving it with 2,663 shares worth about $705,000.
• Despite that sale, Salesforce remains heavily held by institutions, with 80.43% of shares owned by hedge funds and other institutional investors. Large holders like Vanguard, State Street, and Geode all modestly increased their positions.
• Analysts remain broadly positive after Salesforce’s latest results, which beat earnings expectations and included revenue growth of 13.3% year over year. The company also raised guidance, though some firms trimmed price targets and the stock traded near $191.

Parr Mcknight Wealth Management Group LLC reduced its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 70.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,663 shares of the CRM provider's stock after selling 6,416 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Salesforce were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Salesforce by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider's stock worth $23,800,353,000 after purchasing an additional 270,913 shares in the last quarter. State Street Corp lifted its stake in Salesforce by 0.3% in the 3rd quarter. State Street Corp now owns 49,420,657 shares of the CRM provider's stock worth $11,732,966,000 after purchasing an additional 159,739 shares in the last quarter. Geode Capital Management LLC lifted its position in Salesforce by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider's stock worth $5,751,073,000 after buying an additional 791,345 shares in the last quarter. Capital International Investors lifted its position in Salesforce by 9.4% during the third quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider's stock worth $4,753,519,000 after buying an additional 1,729,440 shares in the last quarter. Finally, Capital World Investors lifted its position in Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider's stock worth $4,106,255,000 after buying an additional 10,636,161 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Canaccord Genuity Group reduced their price objective on Salesforce from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday. TD Cowen dropped their price objective on shares of Salesforce from $250.00 to $240.00 and set a "buy" rating for the company in a report on Thursday. Bank of America initiated coverage on shares of Salesforce in a research report on Monday, May 18th. They set an "underperform" rating and a $160.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $325.00 target price on shares of Salesforce in a research note on Thursday. Finally, DA Davidson dropped their price target on shares of Salesforce from $200.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $257.97.

Salesforce Stock Down 0.1%

Shares of NYSE:CRM opened at $191.00 on Monday. The business has a 50-day moving average price of $180.77 and a 200 day moving average price of $210.36. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $156.43 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.27 and a beta of 1.16. Salesforce Inc. has a 12-month low of $163.52 and a 12-month high of $276.80.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same period last year, the business earned $2.58 earnings per share. The business's revenue for the quarter was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Sell-side analysts expect that Salesforce Inc. will post 9.72 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, June 11th. Salesforce's dividend payout ratio (DPR) is 20.37%.

Salesforce declared that its board has authorized a stock repurchase plan on Monday, March 16th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Key Stories Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Salesforce beat fiscal Q1 expectations, with revenue rising 13% year over year to $11.13 billion and EPS of $3.88 topping estimates, reinforcing that demand remains healthy. CRM Q1 Earnings Top Estimates, Revenues Rise Y/Y on ARR Milestone
• Positive Sentiment: The company said Agentforce annual recurring revenue crossed $1 billion and lifted FY2027 revenue guidance, suggesting its AI products are starting to contribute meaningfully to growth. Salesforce raises FY 2027 revenue guide to $45.9B-$46.2B while launching $25B accelerated share repurchase
• Positive Sentiment: Salesforce announced a $25 billion accelerated share repurchase program and highlighted $6.6 billion in free cash flow, signaling strong cash generation and shareholder returns. Salesforce Announces Quarterly Dividend
• Positive Sentiment: New customer and partner headlines, including CVS Health expanding use of Salesforce’s Agentforce Health, support the view that the company’s AI platform is gaining traction. CVS Health to Deliver Faster, More Personalized Call Center Care for Millions of Members with Salesforce's Agentforce Health
• Neutral Sentiment: Several analysts remained constructive, but many trimmed price targets after the report, reflecting a more cautious stance on near-term upside. Salesforce Q1 Results 'Uninspiring': 'Nothing To Dispel The AI Threat Narrative'
• Negative Sentiment: Investors were disappointed by Q2 revenue guidance, which came in slightly below expectations, keeping the stock under pressure despite the earnings beat. CRM Stock Dips After-Hours As Q2 Revenue Outlook Marginally Misses Expectations
• Negative Sentiment: Bearish commentary continues to focus on the risk that AI agents could eventually disrupt Salesforce’s core revenue model, which is weighing on sentiment. Analyst warns Salesforce has an AI problem

Insider Activity at Salesforce

In other news, Director David Blair Kirk acquired 2,570 shares of the company's stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $194.62 per share, with a total value of $500,173.40. Following the completion of the purchase, the director owned 13,689 shares of the company's stock, valued at $2,664,153.18. This represents a 23.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Laura Alber acquired 2,571 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was purchased at an average cost of $194.58 per share, with a total value of $500,265.18. Following the completion of the purchase, the director directly owned 9,530 shares of the company's stock, valued at approximately $1,854,347.40. This represents a 36.94% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by company insiders.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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