Salesforce Inc. $CRM Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management LLC reduced its stake in Salesforce by 16.4%, selling 5,686 shares, which left them with 28,881 shares worth approximately $7.88 million.
• Director David Blair Kirk made a significant purchase of 3,400 shares at $254.66 each, increasing his position by nearly 802%.
• Salesforce recently reported earnings that exceeded analyst expectations, with earnings per share of $2.91 against estimates of $2.78, indicating a year-over-year revenue growth of 9.8%.

Apollon Wealth Management LLC lowered its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,881 shares of the CRM provider's stock after selling 5,686 shares during the period. Apollon Wealth Management LLC's holdings in Salesforce were worth $7,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in shares of Salesforce by 30.1% in the second quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider's stock valued at $7,577,000 after buying an additional 6,430 shares during the last quarter. Neville Rodie & Shaw Inc. raised its position in shares of Salesforce by 4.6% in the second quarter. Neville Rodie & Shaw Inc. now owns 59,970 shares of the CRM provider's stock valued at $16,353,000 after buying an additional 2,644 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Salesforce in the first quarter valued at approximately $9,367,000. Jones Financial Companies Lllp raised its position in shares of Salesforce by 31.2% in the first quarter. Jones Financial Companies Lllp now owns 344,887 shares of the CRM provider's stock valued at $93,016,000 after buying an additional 81,916 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its position in shares of Salesforce by 6.8% in the second quarter. Wesbanco Bank Inc. now owns 110,968 shares of the CRM provider's stock valued at $30,260,000 after buying an additional 7,091 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

In other news, Director David Blair Kirk bought 3,400 shares of Salesforce stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average cost of $254.66 per share, with a total value of $865,844.00. Following the completion of the transaction, the director owned 3,824 shares in the company, valued at approximately $973,819.84. This trade represents a 801.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $248.40, for a total transaction of $558,900.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,958,834,236.40. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,750 shares of company stock worth $19,634,805. Corporate insiders own 3.00% of the company's stock.

Salesforce Trading Down 1.3%

Shares of CRM stock opened at $242.11 on Friday. The stock has a market cap of $230.49 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The firm's 50 day moving average price is $244.68 and its two-hundred day moving average price is $258.93.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share 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 firm had revenue of $10.24 billion for the quarter, compared to analysts' expectations of $10.14 billion. During the same period in the previous year, the company posted $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. On average, analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 17th. Salesforce's payout ratio is presently 24.13%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price objective for the company in a research report on Friday, August 15th. Oppenheimer lowered their target price on shares of Salesforce from $370.00 to $315.00 and set an "outperform" rating for the company in a report on Tuesday, August 26th. UBS Group lowered their target price on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Roth Capital restated a "buy" rating and issued a $395.00 target price on shares of Salesforce in a report on Thursday, September 4th. Finally, Macquarie restated a "neutral" rating and issued a $290.00 target price on shares of Salesforce in a report on Thursday, September 4th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $331.89.

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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