Rockefeller Capital Management L.P. Lowers Stock Position in Salesforce Inc. $CRM

Key Points

• Rockefeller Capital Management cut its Salesforce stake by 84.2% in the fourth quarter, selling more than 4.6 million shares and leaving it with 868,241 shares worth about $230 million.
• Wall Street sentiment remains mixed but generally constructive: Monness Crespi & Hardt upgraded Salesforce to buy with a $200 price target, while the overall analyst consensus is still Moderate Buy with an average target of $257.61.
• Salesforce reported strong quarterly results, beating EPS and revenue expectations, and also announced a quarterly dividend plus a $25 billion share buyback, signaling management confidence despite the stock trading near its 52-week low.

Rockefeller Capital Management L.P. decreased its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 84.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,241 shares of the CRM provider's stock after selling 4,623,417 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.09% of Salesforce worth $230,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. Byrne Asset Management LLC raised its holdings in shares of Salesforce by 1.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider's stock valued at $1,147,000 after buying an additional 43 shares during the last quarter. Mathes Company Inc. grew its holdings in shares of Salesforce by 0.4% during the third quarter. Mathes Company Inc. now owns 12,558 shares of the CRM provider's stock worth $2,976,000 after buying an additional 45 shares during the last quarter. Fred Alger Management LLC increased its position in Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock valued at $3,548,000 after acquiring an additional 45 shares during the period. Fulcrum Asset Management LLP increased its position in Salesforce by 1.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,774 shares of the CRM provider's stock valued at $657,000 after acquiring an additional 46 shares during the period. Finally, Pine Haven Investment Counsel Inc raised its stake in Salesforce by 1.5% during the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider's stock valued at $835,000 after acquiring an additional 46 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Monness Crespi & Hardt upgraded Salesforce to buy from neutral and set a $200 price target, signaling roughly 32% upside and citing valuation appeal plus AI-related gains. Monness upgrades Salesforce stock on valuation, AI gains; sees 31% upside
• Positive Sentiment: Truist reiterated confidence in Salesforce following its $3.6 billion acquisition of Fin, a move that could strengthen the company’s AI/customer-agent product lineup. Salesforce (CRM) Earns Vote of Confidence from Truist after $3.6 Billion Acquisition
• Positive Sentiment: Several recent articles highlighted Salesforce as a long-term growth name and an AI beneficiary, with bullish coverage around its Agentforce strategy and generative AI positioning. Why Salesforce (CRM) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Comparison pieces versus Oracle and broad stock-picking articles suggest investors are weighing Salesforce’s slower recent performance against its AI growth narrative rather than reacting to a single new catalyst. Oracle vs. Salesforce: Which Tech Giant Is The Better Buy?
• Negative Sentiment: A recent commentary noted that Salesforce stock has fallen sharply this year, reflecting investor concern about execution, growth expectations, and the company’s discounted valuation versus past highs. Salesforce (CRM) Stock Plunges 41% This Year — A Buying Opportunity Emerges?

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRM shares. Monness Crespi & Hardt upgraded Salesforce from a "neutral" rating to a "buy" rating and set a $200.00 target price on the stock in a research note on Thursday. B. Riley Financial upped their price target on Salesforce from $205.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Bank of America started coverage on Salesforce in a report on Monday, May 18th. They set an "underperform" rating and a $160.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Salesforce from $365.00 to $320.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada restated a "neutral" rating on shares of Salesforce in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $257.61.

Salesforce Stock Down 0.1%

CRM opened at $151.67 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. Salesforce Inc. has a 12 month low of $149.80 and a 12 month high of $276.80. The stock has a market capitalization of $124.22 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.94 and a beta of 1.16. The business has a 50 day simple moving average of $177.42 and a 200-day simple moving average of $204.35.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, equities analysts anticipate that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. Salesforce's dividend payout ratio is 20.37%.

Salesforce announced that its board has initiated a share buyback plan on Monday, March 16th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Salesforce 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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