Procyon Advisors LLC cut its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 74.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,916 shares of the CRM provider's stock after selling 25,811 shares during the period. Procyon Advisors LLC's holdings in Salesforce were worth $2,431,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Pallas Capital Advisors LLC grew its stake in shares of Salesforce by 4.8% during the 2nd quarter. Pallas Capital Advisors LLC now owns 41,159 shares of the CRM provider's stock valued at $11,224,000 after buying an additional 1,874 shares during the period. Affinity Capital Advisors LLC grew its stake in shares of Salesforce by 230.4% during the 2nd quarter. Affinity Capital Advisors LLC now owns 2,762 shares of the CRM provider's stock valued at $753,000 after buying an additional 1,926 shares during the period. GSG Advisors LLC grew its stake in shares of Salesforce by 9.0% during the 2nd quarter. GSG Advisors LLC now owns 1,284 shares of the CRM provider's stock valued at $350,000 after buying an additional 106 shares during the period. FOCUS Wealth Advisors LLC grew its stake in shares of Salesforce by 0.9% during the 2nd quarter. FOCUS Wealth Advisors LLC now owns 7,959 shares of the CRM provider's stock valued at $2,170,000 after buying an additional 69 shares during the period. Finally, Mirador Capital Partners LP grew its stake in shares of Salesforce by 116.5% during the 2nd quarter. Mirador Capital Partners LP now owns 8,637 shares of the CRM provider's stock valued at $2,355,000 after buying an additional 4,647 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Salesforce news, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the purchase, the director directly owned 3,824 shares in the company, valued at $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $242.39, for a total transaction of $545,377.50. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $2,887,245,694.69. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,077 shares of company stock worth $19,099,953. 3.00% of the stock is owned by company insiders.
Salesforce Price Performance
CRM opened at $239.09 on Wednesday. The firm has a market cap of $227.61 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The company's 50-day moving average price is $251.97 and its 200 day moving average price is $263.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share 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 analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. Salesforce's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.56 earnings per share. 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, sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be paid a dividend of $0.416 per share. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio is 24.13%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set an "overweight" rating for the company in a research note on Thursday, September 4th. JPMorgan Chase & Co. decreased their price target on shares of Salesforce from $380.00 to $365.00 and set an "overweight" rating for the company in a research report on Thursday, September 4th. DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target for the company in a research report on Friday, August 15th. UBS Group decreased their price target on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, Stephens decreased their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $332.58.
View Our Latest Report on Salesforce
About Salesforce
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Salesforce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Salesforce wasn't on the list.
While Salesforce currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
