Salesforce Inc. $CRM Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in Salesforce Inc. by 35.1%, owning 192,828 shares valued at approximately $52.58 million after selling 104,350 shares.
• Salesforce reported earnings of $2.91 per share, exceeding estimates, with revenues of $10.24 billion, marking a year-over-year growth of 9.8%.
• The company has declared a quarterly dividend of $0.416 per share, which will be paid on October 9th to stockholders of record on September 17th.

Riverbridge Partners LLC lessened its position in Salesforce Inc. (NYSE:CRM - Free Report) by 35.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 192,828 shares of the CRM provider's stock after selling 104,350 shares during the period. Riverbridge Partners LLC's holdings in Salesforce were worth $52,582,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Harrell Investment Partners LLC lifted its stake in shares of Salesforce by 4.6% in the 2nd quarter. Harrell Investment Partners LLC now owns 12,746 shares of the CRM provider's stock worth $3,476,000 after acquiring an additional 555 shares during the period. Missouri Trust & Investment Co lifted its stake in shares of Salesforce by 2.2% in the 2nd quarter. Missouri Trust & Investment Co now owns 9,698 shares of the CRM provider's stock worth $2,645,000 after acquiring an additional 213 shares during the period. Regatta Capital Group LLC lifted its stake in shares of Salesforce by 1.4% in the 2nd quarter. Regatta Capital Group LLC now owns 6,741 shares of the CRM provider's stock worth $1,838,000 after acquiring an additional 95 shares during the period. Wealth Effects LLC lifted its stake in shares of Salesforce by 5.2% in the 2nd quarter. Wealth Effects LLC now owns 1,110 shares of the CRM provider's stock worth $303,000 after acquiring an additional 55 shares during the period. Finally, Foster Victor Wealth Advisors LLC lifted its stake in shares of Salesforce by 16.6% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 59,099 shares of the CRM provider's stock worth $16,011,000 after acquiring an additional 8,393 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

NYSE:CRM opened at $245.85 on Thursday. 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 firm has a 50-day moving average price of $250.07 and a two-hundred day moving average price of $262.14. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The company has a market capitalization of $234.05 billion, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 2.23 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $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. As a group, research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal 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 24.13%.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $248.19, for a total transaction of $558,427.50. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,956,332,806.49. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Blair Kirk purchased 3,400 shares of the stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the acquisition, the director owned 3,824 shares of the company's stock, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 76,500 shares of company stock valued at $19,402,583. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Royal Bank Of Canada reduced their target price on shares of Salesforce from $275.00 to $250.00 and set a "sector perform" rating for the company in a research note on Thursday, September 4th. Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Citigroup increased their price target on shares of Salesforce from $275.00 to $276.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Robert W. Baird cut their price target on shares of Salesforce from $365.00 to $325.00 and set an "outperform" rating for the company in a report on Thursday, September 4th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $332.58.

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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