Summit Financial LLC Purchases 13,155 Shares of Salesforce Inc. $CRM

Key Points

• Summit Financial LLC increased its position in Salesforce Inc. by 70.4%, acquiring 13,155 additional shares to reach a total of 31,854 shares valued at approximately $8.55 million.
• Salesforce reported a quarterly revenue of $9.83 billion and earnings per share of $2.58, surpassing analysts' expectations and showing a year-over-year revenue increase of 7.6%.
• Salesforce's stock has experienced analyst rating adjustments, including price target increases and downgrades, with an average "Moderate Buy" rating and a target price of $342.89.

Summit Financial LLC lifted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,854 shares of the CRM provider's stock after acquiring an additional 13,155 shares during the quarter. Summit Financial LLC's holdings in Salesforce were worth $8,548,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth $27,000. Capital A Wealth Management LLC grew its stake in shares of 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 acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares in the last quarter. Finally, Abound Financial LLC bought a new stake in shares of Salesforce in the 1st quarter worth $31,000. Institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

NYSE CRM opened at $245.78 on Thursday. The firm's 50-day simple moving average is $258.99 and its two-hundred day simple moving average is $273.75. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The company has a market cap of $234.97 billion, a PE ratio of 38.46, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

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

Salesforce Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on CRM. Piper Sandler boosted their price target on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Cantor Fitzgerald downgraded shares of Salesforce from an "overweight" rating to a "cautious" rating in a report on Thursday, July 10th. Stifel Nicolaus cut their price target on shares of Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a report on Friday, August 15th. Finally, Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $342.89.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $242.44, for a total transaction of $545,490.00. Following the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,887,841,273.24. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 51,032 shares of company stock worth $13,171,536 in the last quarter. Corporate insiders own 3.00% of the company's stock.

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.

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