Salesforce Inc. $CRM Shares Sold by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd cut its Salesforce stake by 42.9% in the third quarter, selling 15,000 shares and retaining 20,000 shares valued at approximately $4.59 million. Institutional investors collectively own 80.43% of Salesforce.
• Analysts remain broadly bullish, with Salesforce carrying a consensus “Moderate Buy” rating and an average price target of $278.98; recent targets range from $285 to $315.
• Salesforce reported quarterly revenue of $11.35 billion, up 10.8% year over year, and EPS of $5.90—well above the $3.27 consensus estimate. The company also pays a quarterly dividend of $0.44 per share, yielding about 0.7% annually.

Maxi Investments CY Ltd lowered its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 42.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,000 shares of the CRM provider's stock after selling 15,000 shares during the period. Maxi Investments CY Ltd's holdings in Salesforce were worth $4,591,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fluent Financial LLC bought a new position in shares of Salesforce in the second quarter worth about $2,265,000. TAM Capital Management Inc. purchased a new position in shares of Salesforce during the 1st quarter valued at about $40,945,000. Secured Retirement Advisors LLC bought a new position in shares of Salesforce during the 1st quarter valued at approximately $1,004,000. Janus Henderson Group PLC grew its stake in shares of Salesforce by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider's stock valued at $23,846,000 after acquiring an additional 3,125 shares during the period. Finally, Anchor Investment Management LLC grew its stake in shares of Salesforce by 184.5% during the 2nd quarter. Anchor Investment Management LLC now owns 17,983 shares of the CRM provider's stock valued at $2,817,000 after acquiring an additional 11,663 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other news, Director Craig Conway sold 4,500 shares of Salesforce 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 sale, the director owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Blair Kirk bought 4,176 shares of the stock in a transaction dated Friday, September 18th. The stock was bought at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the acquisition, the director directly owned 18,748 shares of the company's stock, valued at approximately $4,486,958.84. This represents a 28.66% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRM. Citizens Jmp reissued a "market outperform" rating and issued a $315.00 target price on shares of Salesforce in a report on Friday, September 18th. Yorkville Ives assumed coverage on shares of Salesforce in a report on Monday, October 5th. They set an "outperform" rating and a $290.00 price target on the stock. BMO Capital Markets upped their price target on shares of Salesforce from $250.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, September 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Salesforce in a research note on Wednesday, October 21st. Finally, Guggenheim increased their price objective on shares of Salesforce from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $278.98.

Salesforce Stock Performance

NYSE CRM opened at $247.69 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The business has a 50-day moving average price of $235.03 and a 200-day moving average price of $199.47. The firm has a market cap of $203.85 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.26.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results 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. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same quarter last year, the company earned $2.91 EPS. The firm's quarterly 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. As a group, equities research analysts predict that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were 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 was Thursday, September 17th. Salesforce's dividend payout ratio (DPR) is 16.04%.

About Salesforce

Salesforce, Inc NYSE: CRM is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company's products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.

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