Salesforce Inc. $CRM Shares Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC increased its holdings in Salesforce Inc. by 8.1%, owning 17,980 shares valued at approximately $4.9 million after acquiring additional shares in the second quarter.
• Salesforce's earnings report showed an EPS of $2.91, surpassing expectations, with a revenue of $10.24 billion for the quarter, reflecting a year-over-year growth of 9.8%.
• Several analysts adjusted their target prices for Salesforce, with estimates ranging from $260 to $400, while the average price target stands at $331.89 and the stock maintains a "Moderate Buy" rating.

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,980 shares of the CRM provider's stock after acquiring an additional 1,353 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Salesforce were worth $4,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Brighton Jones LLC increased its stake in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC increased its stake in Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after acquiring an additional 184 shares during the last quarter. GAMMA Investing LLC increased its stake in Salesforce by 13.9% during the first quarter. GAMMA Investing LLC now owns 14,166 shares of the CRM provider's stock worth $3,802,000 after acquiring an additional 1,725 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Salesforce by 16.9% during the first quarter. Simon Quick Advisors LLC now owns 4,941 shares of the CRM provider's stock worth $1,326,000 after acquiring an additional 715 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. KeyCorp cut their target price on Salesforce from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Thursday, September 4th. Macquarie reaffirmed a "neutral" rating and issued a $290.00 price objective on shares of Salesforce in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on Salesforce from $400.00 to $340.00 and set a "buy" rating for the company in a research note on Thursday, September 4th. UBS Group dropped their price objective on Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. Finally, Wells Fargo & Company dropped their price objective on Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a research note on Thursday, September 4th. Twenty-six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $331.89.

Salesforce Trading Down 1.3%

CRM opened at $242.11 on Friday. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The stock has a market capitalization of $230.49 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average price of $244.68 and a 200 day moving average price of $258.93.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the firm posted $2.56 EPS. Salesforce'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. Sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were issued a dividend of $0.416 per share. 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%.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $239.79, for a total transaction of $539,527.50. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,856,275,610.09. The trade was a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 78,750 shares of company stock worth $19,634,805. 3.00% of the stock is owned by insiders.

About Salesforce

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.