QRG Capital Management Inc. Sells 4,546 Shares of Salesforce Inc. $CRM

Key Points

• QRG Capital Management Inc. has reduced its stake in Salesforce Inc. by 2.4%, now holding 181,654 shares valued at approximately $49.5 million.
• Salesforce reported better-than-expected quarterly earnings with $2.91 earnings per share, exceeding analysts' estimates by $0.13, while revenues rose 9.8% year-over-year.
• Salesforce's board recently declared a quarterly dividend of $0.416 per share, representing an annual yield of 0.7%.

QRG Capital Management Inc. trimmed its position in Salesforce Inc. (NYSE:CRM - Free Report) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,654 shares of the CRM provider's stock after selling 4,546 shares during the quarter. QRG Capital Management Inc.'s holdings in Salesforce were worth $49,535,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CRM. Painted Porch Advisors LLC increased its stake in Salesforce by 260.0% during the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock worth $25,000 after acquiring an additional 65 shares during the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of Salesforce by 450.0% in the first 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 during the period. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Salesforce by 314.8% in the first 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 during the period. Abound Financial LLC purchased a new stake in Salesforce during the first quarter worth $31,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in Salesforce by 383.3% during the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider's stock worth $32,000 after buying an additional 92 shares during the period. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRM. DA Davidson raised Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a research report on Friday, August 15th. Barclays cut their price target on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Wall Street Zen downgraded Salesforce from a "buy" rating to a "hold" rating in a research report on Friday. Weiss Ratings restated a "hold (c+)" rating on shares of Salesforce in a research report on Saturday, September 27th. Finally, Robert W. Baird dropped their target price on Salesforce from $365.00 to $325.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $332.58.

Insider Buying and Selling at Salesforce

In other news, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the acquisition, the director owned 3,824 shares in the company, valued at $973,819.84. This trade represents a 801.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $265.77, for a total value of $597,982.50. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,165,738,224.67. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,000 shares of company stock worth $20,357,213 in the last three months. 3.00% of the stock is currently owned by corporate insiders.

Salesforce Stock Up 0.6%

NYSE:CRM opened at $240.25 on Friday. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The stock's fifty day moving average is $246.66 and its two-hundred day moving average is $260.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $228.72 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company earned $2.56 earnings per share. The company's 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. Research analysts anticipate 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. Investors of record on Wednesday, September 17th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio is 24.13%.

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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