HB Wealth Management LLC Buys 6,423 Shares of Salesforce Inc. $CRM

HB Wealth Management LLC raised its stake in shares of Salesforce Inc. (NYSE:CRM) by 18.3% in the third quarter, Holdings Channel reports. The institutional investor owned 41,601 shares of the CRM provider’s stock after buying an additional 6,423 shares during the quarter. HB Wealth Management LLC’s holdings in Salesforce were worth $9,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Bank & Trust Co grew its stake in Salesforce by 19.9% during the third quarter. Texas Bank & Trust Co now owns 4,457 shares of the CRM provider’s stock valued at $1,056,000 after acquiring an additional 739 shares in the last quarter. Harfst & Associates Inc. boosted its holdings in Salesforce by 1.4% in the 3rd quarter. Harfst & Associates Inc. now owns 7,855 shares of the CRM provider’s stock valued at $1,862,000 after purchasing an additional 109 shares during the period. Moran Wealth Management LLC boosted its holdings in Salesforce by 95.6% in the 3rd quarter. Moran Wealth Management LLC now owns 39,796 shares of the CRM provider’s stock valued at $9,432,000 after purchasing an additional 19,450 shares during the period. CX Institutional grew its position in shares of Salesforce by 78.0% during the 3rd quarter. CX Institutional now owns 43,186 shares of the CRM provider’s stock valued at $10,235,000 after purchasing an additional 18,927 shares in the last quarter. Finally, Childress Capital Advisors LLC increased its holdings in shares of Salesforce by 33.1% in the third quarter. Childress Capital Advisors LLC now owns 3,598 shares of the CRM provider’s stock worth $853,000 after purchasing an additional 894 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Northland Securities lifted their price objective on Salesforce from $264.00 to $267.00 and gave the company a “market perform” rating in a research note on Thursday, December 4th. Oppenheimer lowered their price target on Salesforce from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, December 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Salesforce in a report on Thursday, December 4th. Macquarie upped their price objective on shares of Salesforce from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Finally, Bank of America lowered their target price on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $327.74.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit purchased 96,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were acquired at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the purchase, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $258.20, for a total value of $580,950.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $3,075,567,632.20. This trade represents a 0.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 155,034 shares of company stock worth $36,726,584. Company insiders own 3.00% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $260.54 on Friday. The stock’s 50-day moving average is $250.33 and its 200 day moving average is $251.70. The stock has a market cap of $244.13 billion, a price-to-earnings ratio of 34.79, a P/E/G ratio of 1.98 and a beta of 1.26. Salesforce Inc. has a 1-year low of $221.96 and a 1-year high of $367.09. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, beating the consensus estimate of $2.86 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to analyst estimates of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th were issued a $0.416 dividend. The ex-dividend date was Thursday, December 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.6%. Salesforce’s payout ratio is currently 22.16%.

About Salesforce

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.