Insider Buying: Salesforce (NYSE:CRM) Director Acquires 3,400 Shares of Stock

Key Points

• Salesforce Director David Blair Kirk purchased 3,400 shares of the company's stock at an average price of $254.66 per share, increasing his ownership by 801.89% to approximately $973,819.84.
• The company's stock has recently decreased by 3.7%, trading at $242.62, and has a 52-week low of $226.48.
• Salesforce announced a quarterly dividend of $0.416 per share, which will be paid on October 9th, reflecting a dividend yield of 0.7%.

Salesforce Inc. (NYSE:CRM - Get Free Report) Director David Blair Kirk acquired 3,400 shares of the 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 purchase, the director owned 3,824 shares of the company's stock, valued at approximately $973,819.84. This trade represents a 801.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Salesforce Stock Down 3.7%

CRM stock traded down $9.44 during midday trading on Wednesday, hitting $242.62. The company's stock had a trading volume of 10,155,890 shares, compared to its average volume of 9,953,363. Salesforce Inc. has a 52-week low of $226.48 and a 52-week high of $369.00. The firm has a 50-day simple moving average of $254.82 and a 200-day simple moving average of $265.82. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $230.98 billion, a P/E ratio of 35.26, a PEG ratio of 2.30 and a beta of 1.22.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, equities analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its position 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 purchasing an additional 205 shares during the last quarter. Bison Wealth LLC raised its position in shares of Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after purchasing an additional 184 shares during the last quarter. Algert Global LLC acquired a new stake in Salesforce during the 4th quarter valued at $280,000. Finally, MJP Associates Inc. ADV increased its position in Salesforce by 56.2% during the fourth quarter. MJP Associates Inc. ADV now owns 1,142 shares of the CRM provider's stock worth $382,000 after buying an additional 411 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRM. Stephens lowered their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $325.00 target price on shares of Salesforce in a research report on Thursday, September 4th. The Goldman Sachs Group boosted their target price on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Roth Capital reiterated a "buy" rating and issued a $395.00 price target on shares of Salesforce in a research note on Thursday, September 4th. Finally, Mizuho cut their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $332.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.