Salesforce Inc. $CRM Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN reduced its holdings in Salesforce Inc. by 7.6%, selling 5,647 shares in the 2nd quarter, leaving them with shares worth approximately $18.71 million.
• Several institutional investors increased their holdings significantly, with Painted Porch Advisors LLC raising theirs by 260% during the second quarter.
• Salesforce announced a quarterly dividend of $0.416 per share, payable on October 9th, with a dividend yield of 0.7%.

OLD National Bancorp IN decreased its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,616 shares of the CRM provider's stock after selling 5,647 shares during the quarter. OLD National Bancorp IN's holdings in Salesforce were worth $18,711,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRM. Piper Sandler cut their price objective on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a research note on Thursday, September 4th. KeyCorp dropped their price target on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. JPMorgan Chase & Co. dropped their price target on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Stifel Nicolaus dropped their price target on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, BMO Capital Markets dropped their price target on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. Twenty-six research 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 data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Price Performance

NYSE CRM opened at $240.25 on Friday. The stock's 50-day moving average price is $246.66 and its two-hundred day moving average price is $260.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The company has a market cap of $228.72 billion, a PE ratio of 34.92, a PEG ratio of 2.08 and a beta of 1.19. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. The firm had revenue of $10.24 billion for 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 business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

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

Insider Activity at Salesforce

In other news, Director David Blair Kirk purchased 3,400 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average price of $254.66 per share, with a total value of $865,844.00. Following the purchase, the director owned 3,824 shares in the company, valued at $973,819.84. This represents a 801.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $531,855.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 81,000 shares of company stock valued at $20,357,213. 3.00% of the stock is currently 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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