Salesforce Inc. $CRM Shares Sold by PGIM Custom Harvest LLC

Key Points

• PGIM Custom Harvest LLC dramatically reduced its stake in Salesforce Inc. by 86.4%, now holding just 1,652 shares worth approximately $443,000.
• Salesforce reported $2.58 earnings per share for the latest quarter, exceeding estimates, along with a revenue of $9.83 billion, reflecting a year-over-year increase of 7.6%.
• Analysts maintain a generally positive outlook on Salesforce, with an average rating of "Moderate Buy" and a current average price target of $342.89.

PGIM Custom Harvest LLC lowered its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 86.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,652 shares of the CRM provider's stock after selling 10,484 shares during the period. PGIM Custom Harvest LLC's holdings in Salesforce were worth $443,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter worth about $27,000. Wood Tarver Financial Group LLC acquired a new stake in Salesforce in the 4th quarter worth about $35,000. Capital A Wealth Management LLC boosted its stake in Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its stake in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Northland Securities decreased their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price target (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $275.00 price target on shares of Salesforce in a research note on Monday. Barclays decreased their price target on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $342.89.

Salesforce Stock Performance

NYSE CRM opened at $245.78 on Thursday. The firm has a market capitalization of $234.97 billion, a P/E ratio of 38.46, a P/E/G ratio of 2.23 and a beta of 1.37. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The business's 50-day simple moving average is $258.99 and its 200-day simple moving average is $273.75.

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

Salesforce Cuts Dividend

The business also recently announced 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 was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $242.44, for a total transaction of $545,490.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,887,841,273.24. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 51,032 shares of company stock worth $13,171,536. Company insiders own 3.00% of the company's stock.

Salesforce Company 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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