Salesforce Inc. $CRM Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 10.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,694 shares of the CRM provider's stock after selling 2,125 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Salesforce were worth $2,772,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Retirement Investments LLC purchased a new position in Salesforce in the 4th quarter valued at $25,000. Manning & Napier Advisors LLC purchased a new position in shares of Salesforce in the second quarter worth about $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth about $26,000. Persistent Asset Partners Ltd acquired a new position in Salesforce during the second quarter worth about $27,000. Finally, Costello Asset Management INC grew its stake in Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock valued at $28,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Truist Financial restated a "buy" rating and set a $300.00 target price (up from $280.00) on shares of Salesforce in a report on Thursday, August 27th. Daiwa Securities Group lowered their price objective on Salesforce from $295.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, June 2nd. DA Davidson raised their target price on Salesforce from $175.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, August 27th. Susquehanna began coverage on Salesforce in a report on Wednesday, July 1st. They set a "neutral" rating on the stock. Finally, HSBC upped their price objective on shares of Salesforce from $350.00 to $356.00 and gave the company a "buy" rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $266.50.

Salesforce Trading Down 3.9%

NYSE CRM opened at $249.03 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $204.95 billion, a P/E ratio of 22.70, a PEG ratio of 1.20 and a beta of 1.20. The firm's 50-day moving average is $195.74 and its two-hundred day moving average is $185.92. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The business had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same period in the previous year, the firm earned $2.91 EPS. The business's revenue was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, sell-side analysts anticipate that Salesforce Inc. will post 12.65 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, September 17th. Salesforce's dividend payout ratio is 16.04%.

Insider Activity at Salesforce

In other news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the sale, the director directly owned 5,437 shares of the company's stock, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Salesforce Company Profile

Salesforce, Inc is a cloud-based software company that provides customer relationship management (CRM) technology and related enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, data analytics and business operations through subscription-based software and cloud services.

The company's product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Data Cloud and the Salesforce Platform. Salesforce also offers Slack for workplace collaboration, Tableau for data visualization and analytics, MuleSoft for application integration, and artificial intelligence capabilities, including its Agentforce platform for building and deploying AI agents.

Founded in 1999, Salesforce is headquartered in San Francisco, California, and serves businesses and organizations across a broad range of industries and geographic markets worldwide.

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