Salesforce Inc. $CRM Shares Sold by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. has reduced its stake in Salesforce Inc. by 8.0%, owning 68,626 shares valued at approximately $18.4 million after selling 6,005 shares in the first quarter.
• Salesforce's CEO, Marc Benioff, sold 2,250 shares at an average price of $247.67, resulting in a total transaction of over $557,000, while retaining a significant portion of the company's stock valued at nearly $2.95 billion.
• Salesforce reported a net income margin of 16.08% and quarterly earnings of $2.58 per share, exceeding analysts' expectations, and set future EPS guidance for FY 2026 between 11.270 and 11.330.

Harvest Portfolios Group Inc. lowered its position in Salesforce Inc. (NYSE:CRM - Free Report) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,626 shares of the CRM provider's stock after selling 6,005 shares during the period. Harvest Portfolios Group Inc.'s holdings in Salesforce were worth $18,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares in the last quarter. Quarry LP purchased a new position in shares of Salesforce during the 4th quarter worth approximately $82,000. Insight Holdings Group LLC purchased a new position in shares of Salesforce during the 4th quarter worth approximately $16,549,000. Finally, Northern Trust Corp grew its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $247.67, for a total transaction of $557,257.50. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $2,950,138,789.57. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 54,827 shares of company stock valued at $14,085,446. 3.00% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $247.75 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 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 has a 50-day simple moving average of $258.06 and a 200 day simple moving average of $270.96. The company has a market cap of $236.85 billion, a PE ratio of 38.77, a P/E/G ratio of 2.25 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the business posted $2.44 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. On average, sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Analyst Ratings Changes

Several analysts have commented on CRM shares. Cantor Fitzgerald cut shares of Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. Royal Bank Of Canada reissued a "sector perform" rating and set a $275.00 price objective on shares of Salesforce in a research note on Monday, August 18th. Wells Fargo & Company lifted their target price on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Barclays reduced their target price on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Finally, Stifel Nicolaus reduced their target price on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Four analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $344.05.

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.

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.