Stoneridge Investment Partners LLC cut its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 49.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,324 shares of the CRM provider's stock after selling 7,182 shares during the quarter. Salesforce accounts for 1.7% of Stoneridge Investment Partners LLC's portfolio, making the stock its 20th biggest holding. Stoneridge Investment Partners LLC's holdings in Salesforce were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares during the period. Jump Financial LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $361,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Salesforce by 36.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,346 shares of the CRM provider's stock valued at $450,000 after purchasing an additional 356 shares during the period. Finally, Fayez Sarofim & Co grew its position in Salesforce by 3.8% in the fourth quarter. Fayez Sarofim & Co now owns 2,746 shares of the CRM provider's stock valued at $918,000 after acquiring an additional 100 shares during the period. 80.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on CRM shares. Wells Fargo & Company lifted their price objective on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Stephens cut their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Royal Bank Of Canada reissued a "sector perform" rating and set a $275.00 price objective on shares of Salesforce in a report on Monday. The Goldman Sachs Group lifted their target price on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Barclays decreased their price target on Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research report on Monday. Four analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $342.89.
Read Our Latest Stock Report on CRM
Salesforce Stock Performance
Shares of Salesforce stock opened at $245.6070 on Wednesday. The firm has a market cap of $234.80 billion, a price-to-earnings ratio of 38.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.37. The stock's 50-day moving average is $259.40 and its 200-day moving average is $273.94. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.
Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly 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 company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $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 analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.
Salesforce Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's payout ratio is 25.98%.
Insiders Place Their Bets
In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $260.30, for a total transaction of $585,675.00. Following the transaction, the chief executive officer owned 11,955,566 shares of the company's stock, valued at $3,112,033,829.80. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 51,032 shares of company stock worth $13,171,536 over the last 90 days. 3.00% of the stock is owned by insiders.
Salesforce Company Profile
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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.
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