Salesforce Inc. $CRM Shares Sold by Castle Rock Wealth Management LLC

Key Points

• Castle Rock Wealth Management LLC reduced its stake in Salesforce Inc. by 45.4%, selling 2,143 shares and now owning 2,579 shares valued at $680,000.
• Salesforce reported earnings of $2.91 per share for the quarter, exceeding estimates, with a revenue of $10.24 billion, reflecting a 9.8% year-over-year growth.
• The company announced a quarterly dividend of $0.416 per share, with the payout scheduled for October 9th, contributing to a dividend yield of 0.7%.

Castle Rock Wealth Management LLC decreased its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 45.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,579 shares of the CRM provider's stock after selling 2,143 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Salesforce were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Painted Porch Advisors LLC boosted its position in Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider's stock worth $25,000 after acquiring an additional 65 shares during the period. Capital A Wealth Management LLC raised its stake in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares in the last quarter. Abound Financial LLC bought a new position in shares of Salesforce in the 1st quarter valued at approximately $31,000. Finally, Christopher J. Hasenberg Inc raised its stake in shares of Salesforce by 383.3% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider's stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent analyst reports. DA Davidson raised Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price objective on the stock in a research note on Friday, August 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Salesforce in a research report on Saturday, September 27th. Canaccord Genuity Group dropped their price target on Salesforce from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Piper Sandler decreased their price objective on Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. decreased their price target 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $332.58.

Salesforce Trading Down 2.4%

CRM stock opened at $239.91 on Wednesday. The company has a market cap of $228.40 billion, a P/E ratio of 34.87, a PEG ratio of 2.12 and a beta of 1.19. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. 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 business has a fifty day moving average of $245.62 and a 200-day moving average of $259.67.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $241.32, for a total transaction of $542,970.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $2,874,500,313.72. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 78,750 shares of company stock worth $19,679,535 in the last ninety days. Insiders own 3.00% of the company's stock.

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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