Salesforce Inc. $CRM Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Key Points

• Hudson Valley Investment Advisors Inc. ADV reduced its Salesforce holdings by 10.5% in the second quarter, holding 35,558 shares worth approximately $9.7 million.
• Salesforce reported a net income of $2.91 EPS for the last quarter, exceeding analysts' estimates, with revenue of $10.24 billion, up 9.8% year-over-year.
• The company has a market capitalization of $228.72 billion and an average analyst rating of "Moderate Buy" with a consensus price target of $332.58.

Hudson Valley Investment Advisors Inc. ADV cut its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,558 shares of the CRM provider's stock after selling 4,186 shares during the period. Salesforce comprises approximately 1.1% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 24th biggest position. Hudson Valley Investment Advisors Inc. ADV's holdings in Salesforce were worth $9,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. Nuveen LLC acquired a new position in shares of Salesforce in the 1st quarter valued at about $2,039,196,000. Longview Partners Guernsey LTD acquired a new position in shares of Salesforce in the 1st quarter valued at about $467,944,000. Pacer Advisors Inc. boosted its holdings in shares of Salesforce by 1,744.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock valued at $488,486,000 after buying an additional 1,721,550 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Salesforce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after buying an additional 1,383,942 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Salesforce in the 1st quarter valued at about $345,100,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CRM. Robert W. Baird reduced their target price on shares of Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a research note on Thursday, September 4th. Wall Street Zen lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Friday. UBS Group reduced their target price on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of Salesforce in a research note on Saturday, September 27th. Finally, Stifel Nicolaus reduced their target price on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Twenty-six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $332.58.

Salesforce Stock Up 0.6%

CRM stock opened at $240.25 on Friday. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The company's 50 day simple moving average is $246.66 and its 200-day simple moving average is $260.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $228.72 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.06 and a beta of 1.19.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) 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 business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the business earned $2.56 earnings per share. The firm'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. As a group, equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be issued 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 currently 24.13%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $236.38, for a total transaction of $531,855.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $2,815,657,152.98. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders have sold 81,000 shares of company stock worth $20,357,213 in the last 90 days. 3.00% of the stock is owned by company insiders.

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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