Salesforce Inc. $CRM Shares Purchased by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in Salesforce Inc. by 31.0%, now owning 35,045 shares worth approximately $9.56 million.
• Salesforce's latest quarterly earnings exceeded expectations, reporting $2.91 EPS on revenues of $10.24 billion, reflecting a year-over-year revenue growth of 9.8%.
• The company recently declared a quarterly dividend of $0.416 per share, representing a yield of 0.7%, with an ex-dividend date set for September 17th.

Shell Asset Management Co. raised its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 31.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,045 shares of the CRM provider's stock after purchasing an additional 8,301 shares during the period. Shell Asset Management Co.'s holdings in Salesforce were worth $9,556,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Salesforce by 13.7% in 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 in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC boosted its position in shares of Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after buying an additional 184 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Salesforce by 23.2% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,273 shares of the CRM provider's stock worth $1,415,000 after acquiring an additional 992 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in shares of Salesforce by 4.1% during the 1st quarter. Capital Investment Advisors LLC now owns 7,020 shares of the CRM provider's stock worth $1,884,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a research report on Thursday, September 4th. Barclays lowered their target price on Salesforce from $347.00 to $316.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Citigroup lifted their price objective on shares of Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. Stifel Nicolaus lowered their price target on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Salesforce from $380.00 to $365.00 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Stock Up 2.3%

Shares of NYSE CRM opened at $245.85 on Tuesday. 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 $234.05 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The firm has a 50-day moving average price of $246.17 and a 200 day moving average price of $259.80.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.416 per share. 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 payout ratio is 24.13%.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $236.38, for a total transaction of $531,855.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,815,657,152.98. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, 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 disclosure for this purchase can be found here. Over the last quarter, insiders have sold 78,750 shares of company stock valued at $19,747,868. 3.00% of the stock is owned by corporate 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.

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