Rice Partnership LLC Purchases 1,064 Shares of Salesforce Inc. $CRM

Key Points

• Rice Partnership LLC increased its stake in Salesforce Inc. by 13.4%, acquiring an additional 1,064 shares, bringing its total holdings to 9,006 shares valued at approximately $2.46 million.
• Salesforce's recent quarterly earnings report showed an EPS of $2.91, surpassing analyst expectations of $2.78, with a revenue of $10.24 billion compared to estimates of $10.14 billion.
• Institutional investors hold 80.43% of Salesforce's stock, indicating significant confidence in the company among major financial entities.

Rice Partnership LLC grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,006 shares of the CRM provider's stock after purchasing an additional 1,064 shares during the quarter. Rice Partnership LLC's holdings in Salesforce were worth $2,456,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CRM. Painted Porch Advisors LLC lifted its position in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock valued at $25,000 after acquiring an additional 65 shares during the period. Capital A Wealth Management LLC lifted its position in shares of 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 acquiring an additional 90 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the last quarter. Abound Financial LLC acquired a new position in Salesforce during the first quarter worth $31,000. Finally, Christopher J. Hasenberg Inc raised 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 last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Buying and Selling

In related news, Director David Blair Kirk bought 3,400 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director directly 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 SEC, which is available through this link. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $252.42, for a total transaction of $567,945.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,006,718,751.82. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,750 shares of company stock valued at $19,679,535 over the last 90 days. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Macquarie restated a "neutral" rating and set a $290.00 price objective on shares of Salesforce in a report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Salesforce from $400.00 to $340.00 and set a "buy" rating on the stock in a report on Thursday, September 4th. Oppenheimer lowered their price objective on shares of Salesforce from $370.00 to $315.00 and set an "outperform" rating on the stock in a report on Tuesday, August 26th. Piper Sandler lowered their target price on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday, September 4th. Finally, Wall Street Zen downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Price Performance

CRM stock opened at $240.23 on Thursday. The firm has a 50 day moving average of $245.13 and a 200-day moving average of $259.53. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The firm has a market capitalization of $228.70 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period last year, the business earned $2.56 earnings per share. Salesforce's revenue 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. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be given a $0.416 dividend. 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 dividend payout ratio (DPR) is 24.13%.

Salesforce Company 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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