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

Key Points

• HB Wealth Management reduced its Salesforce position by 9.3% in the second quarter, selling 3,462 shares and retaining 33,897 shares valued at approximately $5.31 million. Institutional investors collectively own 80.43% of the stock.
• Director Craig Conway sold 4,500 shares for roughly $1.17 million, reducing his position by 45.29%; insiders own 3.50% of Salesforce.
• Salesforce reported quarterly EPS of $5.90, well above the $3.27 consensus estimate, while revenue rose 10.8% year over year to $11.35 billion. Analysts maintain a Moderate Buy consensus with an average price target of $266.50, and the company declared a quarterly dividend of $0.44 per share.

HB Wealth Management LLC decreased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,897 shares of the CRM provider's stock after selling 3,462 shares during the quarter. HB Wealth Management LLC's holdings in Salesforce were worth $5,310,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC raised its holdings in shares of Salesforce by 0.3% during the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock worth $3,548,000 after acquiring an additional 45 shares during the period. Synergy Financial Group LTD grew its holdings in shares of Salesforce by 2.4% in the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock valued at $482,000 after purchasing an additional 48 shares during the period. CBIZ Investment Advisory Services LLC increased its position in Salesforce by 35.4% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider's stock worth $53,000 after purchasing an additional 52 shares during the last quarter. Krane Funds Advisors LLC grew its stake in shares of Salesforce by 0.7% in the 4th quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider's stock valued at $2,187,000 after buying an additional 57 shares during the period. Finally, HBW Advisory Services LLC raised its position in shares of Salesforce by 0.4% during the 1st quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider's stock valued at $2,445,000 after buying an additional 57 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Salesforce Stock Performance

Shares of CRM stock opened at $259.39 on Tuesday. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The firm has a 50 day moving average of $193.90 and a two-hundred day moving average of $185.49. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $213.48 billion, a PE ratio of 23.65, a P/E/G ratio of 1.20 and a beta of 1.20.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $2.63. The business had revenue of $11.35 billion for the quarter, compared to analysts' expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The company's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $2.91 earnings per share. 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, research analysts predict that Salesforce Inc. will post 12.65 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be issued 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 of this dividend is Thursday, September 17th. Salesforce's payout ratio is 16.04%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley set a $315.00 price objective on Salesforce in a research report on Wednesday, September 2nd. HSBC raised their price objective on Salesforce from $350.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Jefferies Financial Group lifted their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Piper Sandler lowered shares of Salesforce from an "overweight" rating to a "neutral" rating in a report on Thursday, May 28th. Finally, Oppenheimer reissued an "outperform" rating and issued a $275.00 target price (up from $250.00) on shares of Salesforce in a research report on Thursday, August 27th. Three equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $266.50.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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