Trybe Capital Management LP Sells 31,748 Shares of Salesforce Inc. $CRM

Key Points

• Trybe Capital Management LP reduced its stake in Salesforce Inc. by 23.8%, selling 31,748 shares and now holds 101,776 shares valued at approximately $27.3 million.
• Salesforce reported $2.91 EPS for the last quarter, exceeding analysts' expectations and achieving a 9.8% year-over-year revenue increase to $10.24 billion.
• The company declared a quarterly dividend of $0.416, indicating a 0.7% dividend yield and a payment date set for October 9th.

Trybe Capital Management LP lowered its position in Salesforce Inc. (NYSE:CRM - Free Report) by 23.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,776 shares of the CRM provider's stock after selling 31,748 shares during the period. Salesforce comprises approximately 7.2% of Trybe Capital Management LP's investment portfolio, making the stock its 6th biggest position. Trybe Capital Management LP's holdings in Salesforce were worth $27,313,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce in the 4th quarter worth about $25,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $35,000. Capital A Wealth Management LLC lifted its position in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares during the period. Finally, Abound Financial LLC acquired a new stake in Salesforce in the 1st quarter valued at $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $250.40 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock's fifty day moving average is $255.64 and its two-hundred day moving average is $266.68. The firm has a market capitalization of $239.39 billion, a P/E ratio of 36.40, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a return on equity of 13.34% and a net margin of 16.87%.The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be paid 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 24.13%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $241.50, for a total value of $543,375.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,876,644,396.50. 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. Over the last 90 days, insiders have sold 66,077 shares of company stock worth $16,885,773. 3.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Piper Sandler dropped their target price on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a research report on Thursday. The Goldman Sachs Group raised their price target 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. BMO Capital Markets lowered their price objective on Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a report on Thursday. Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $331.34.

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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