Salesforce Inc. $CRM Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D sold 28,836 shares of Salesforce, reducing its holdings by 8.2% to 323,225 shares, valued at $86.74 million.
• Salesforce reported a net margin of 16.08% and year-over-year revenue growth of 7.6%, with earnings per share of $2.58 for the last quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Salesforce stock, with a target price of $346.84.

State of New Jersey Common Pension Fund D lowered its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,225 shares of the CRM provider's stock after selling 28,836 shares during the period. State of New Jersey Common Pension Fund D's holdings in Salesforce were worth $86,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. 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 purchasing an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after purchasing an additional 85 shares during the last quarter. Finally, Abound Financial LLC purchased a new stake in Salesforce during the 1st quarter worth approximately $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $241.49, for a total value of $543,352.50. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,876,525,280.79. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 48,782 shares of company stock worth $12,626,046. 3.00% of the stock is owned by company insiders.

Salesforce Price Performance

NYSE CRM traded up $0.5870 during mid-day trading on Tuesday, hitting $244.5570. The stock had a trading volume of 4,073,691 shares, compared to its average volume of 7,215,118. The firm's 50 day moving average is $259.85 and its 200 day moving average is $274.14. 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 stock has a market capitalization of $233.80 billion, a price-to-earnings ratio of 38.22, a PEG ratio of 2.20 and a beta of 1.37. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00.

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

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio is 25.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRM. UBS Group reduced 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. Royal Bank Of Canada restated a "sector perform" rating and set a $275.00 target price on shares of Salesforce in a research report on Monday. Stephens lowered their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Oppenheimer reiterated an "outperform" rating and set a $370.00 price objective on shares of Salesforce in a research note on Tuesday, June 10th. Finally, DA Davidson upgraded Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 target price on the stock in a research note on Friday. Four 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 issued a Sell rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $342.89.

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.