State of Alaska Department of Revenue Sells 4,415 Shares of Salesforce Inc. $CRM

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Salesforce Inc. by 3.9%, selling 4,415 shares, and now owns 107,725 shares valued at approximately $29.4 million.
• Research analysts have mixed views on Salesforce, with price targets ranging from $221.00 to $430.00, leading to a consensus rating of "Moderate Buy" and an average target price of $332.58.
• Salesforce reported earnings of $2.91 per share for the last quarter, exceeding expectations, with a revenue growth of 9.8% year-over-year and a quarterly dividend of $0.416 announced for October 9th.

State of Alaska Department of Revenue decreased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,725 shares of the CRM provider's stock after selling 4,415 shares during the period. State of Alaska Department of Revenue's holdings in Salesforce were worth $29,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Salesforce by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after purchasing an additional 1,383,942 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Salesforce by 6.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider's stock valued at $2,484,616,000 after purchasing an additional 600,386 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Salesforce by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider's stock valued at $2,419,037,000 after purchasing an additional 437,435 shares in the last quarter. Nuveen LLC bought a new stake in shares of Salesforce during the 1st quarter valued at about $2,039,196,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Salesforce by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider's stock valued at $1,707,316,000 after purchasing an additional 295,681 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Sanford C. Bernstein dropped their price target on Salesforce from $255.00 to $221.00 and set an "underperform" rating on the stock in a research note on Thursday, September 4th. JMP Securities reaffirmed a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a research note on Tuesday, September 2nd. DA Davidson raised Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a research note on Friday, August 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Salesforce from $400.00 to $340.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Finally, Barclays dropped 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, August 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $332.58.

Salesforce Stock Performance

Shares of Salesforce stock opened at $243.58 on Friday. The company has a market cap of $231.89 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The business has a 50 day moving average price of $249.32 and a 200-day moving average price of $261.69. 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 earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $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. Equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio is currently 24.13%.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $269.38, for a total value of $606,105.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,208,738,995.98. 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 available at this hyperlink. Also, Director David Blair Kirk bought 3,400 shares of Salesforce stock in a transaction dated Tuesday, September 9th. The stock was acquired at an average cost 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 $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 ninety days, insiders sold 78,750 shares of company stock valued at $19,955,745. 3.00% of the stock is currently owned by corporate insiders.

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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