Praxis Investment Management Inc. Lowers Position in Salesforce Inc. $CRM

Key Points

• Praxis Investment Management Inc. has reduced its position in Salesforce Inc. by 27.3%, selling 7,170 shares and now holding 19,070 shares valued at approximately $5.2 million.
• CEO Marc Benioff sold 2,250 shares of Salesforce for about $536,332, while insiders sold a total of 78,750 shares valued at over $19.5 million in the last three months.
• Salesforce announced a quarterly dividend of $0.416 per share, resulting in an annualized yield of 0.7%, with the company's payout ratio at 24.13%.

Praxis Investment Management Inc. lessened its position in Salesforce Inc. (NYSE:CRM - Free Report) by 27.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,070 shares of the CRM provider's stock after selling 7,170 shares during the quarter. Praxis Investment Management Inc.'s holdings in Salesforce were worth $5,200,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the period. Revolve Wealth Partners LLC lifted its position in Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after acquiring an additional 205 shares during the period. Bison Wealth LLC lifted its position in Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after acquiring an additional 184 shares during the period. GAMMA Investing LLC lifted its position in Salesforce by 13.9% during the 1st quarter. GAMMA Investing LLC now owns 14,166 shares of the CRM provider's stock valued at $3,802,000 after acquiring an additional 1,725 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its position in Salesforce by 9.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 4,211 shares of the CRM provider's stock valued at $1,130,000 after acquiring an additional 370 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $238.37, for a total value 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. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 78,750 shares of company stock valued at $19,521,495 over the last three months. Insiders own 3.00% of the company's stock.

Salesforce Price Performance

NYSE CRM opened at $245.09 on Friday. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00. The stock has a 50-day moving average of $244.31 and a 200 day moving average of $258.05. The company has a market capitalization of $233.33 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the previous year, the business posted $2.56 earnings per share. The business's revenue for the quarter 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. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 17th. Salesforce's payout ratio is 24.13%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. Piper Sandler reiterated an "overweight" rating and set a $315.00 target price on shares of Salesforce in a report on Thursday. Northland Capmk cut Salesforce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Barclays lowered their price objective on Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Morgan Stanley lifted their price target on Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday. Twenty-five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $325.23.

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.

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