Salesforce Inc. $CRM Stock Sold by Boomfish Wealth Group LLC

Key Points

• Boomfish Wealth Group cut its Salesforce stake by 24.4% in the third quarter, selling 2,638 shares and retaining 8,157 shares worth approximately $1.87 million.
• Salesforce reported strong quarterly results, with EPS of $5.90 versus the $3.27 analyst estimate and revenue of $11.35 billion, up 10.8% year over year.
• Analyst sentiment remains favorable, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $278.98, while institutional investors own 80.43% of outstanding shares.

Boomfish Wealth Group LLC lessened its position in Salesforce Inc. (NYSE:CRM - Free Report) by 24.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,157 shares of the CRM provider's stock after selling 2,638 shares during the period. Boomfish Wealth Group LLC's holdings in Salesforce were worth $1,873,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Costello Asset Management INC lifted its stake in shares of Salesforce by 410.3% during the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock worth $28,000 after purchasing an additional 119 shares in the last quarter. ABS Investment Management LLC acquired a new stake in Salesforce in the second quarter worth about $610,974,000. ABS Direct Equity Fund LLC acquired a new position in shares of Salesforce during the 2nd quarter valued at $25,000. Manning & Napier Advisors LLC purchased a new position in Salesforce in the 2nd quarter worth about $26,000. Finally, Persistent Asset Partners Ltd purchased a new position in Salesforce during the 2nd quarter worth approximately $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.6%

Shares of CRM stock opened at $248.79 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The stock has a 50 day simple moving average of $236.30 and a two-hundred day simple moving average of $196.88. The company has a market cap of $204.76 billion, a P/E ratio of 18.53, a PEG ratio of 1.14 and a beta of 1.26.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $2.63. The firm had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Research analysts forecast that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were paid a $0.44 dividend. 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 payout ratio is currently 16.04%.

Insider Activity at Salesforce

In related news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the transaction, the director owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Blair Kirk purchased 4,176 shares of the stock in a transaction on Friday, September 18th. The stock was acquired at an average cost of $239.33 per share, with a total value of $999,442.08. Following the completion of the purchase, the director directly owned 18,748 shares of the company's stock, valued at $4,486,958.84. The trade was a 28.66% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.50% of the company's stock.

Key Stories Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Salesforce’s AI products are reportedly growing at triple-digit rates, while its Agentforce platform and more than $14 billion in annual free cash flow could support profitable expansion. The company’s valuation may look attractive if AI adoption accelerates. Salesforce Is Betting Big on AI. The Payoff Could Be Bigger Than Investors Expect
• Positive Sentiment: Cantor Fitzgerald reaffirmed an “Overweight” rating, indicating continued confidence in Salesforce’s growth outlook and AI transition. Salesforce Stock Rating Reaffirmed as Overweight
• Positive Sentiment: The $5.66 billion Braze purchase could expand Salesforce’s customer-engagement capabilities and strengthen its push from AI defense toward a broader autonomous-agent strategy. Salesforce’s $5.6B Braze Buyout
• Neutral Sentiment: Investor comparisons with Adobe, Arista Networks and Snowflake highlight Salesforce’s CRM leadership, focus on profitable growth and AI-agent pivot, but do not represent new company-specific developments. Salesforce vs. Snowflake
• Negative Sentiment: Investors may be concerned that the Braze acquisition’s $5.66 billion price will increase integration risk and pressure near-term returns. Questions about contracts, pricing and customer impact could temper enthusiasm for the deal. Salesforce to Buy Braze for $5.66B

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRM. Monness Crespi & Hardt boosted their price target on Salesforce from $222.00 to $266.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. DA Davidson raised their price objective on Salesforce from $225.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday. Weiss Ratings raised Salesforce from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Deutsche Bank Aktiengesellschaft began coverage on Salesforce in a research note on Monday, October 12th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Salesforce in a research report on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $278.98.

Salesforce Company Profile

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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