Salesforce Inc. $CRM Stock: Maxi Investments CY Ltd Decreases Position

Maxi Investments CY Ltd cut its position in shares of Salesforce Inc. (NYSE:CRM) by 42.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,000 shares of the CRM provider’s stock after selling 15,000 shares during the period. Maxi Investments CY Ltd’s holdings in Salesforce were worth $4,591,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Fluent Financial LLC bought a new stake in Salesforce in the second quarter worth $2,265,000. TAM Capital Management Inc. purchased a new stake in Salesforce during the first quarter valued at $40,945,000. Secured Retirement Advisors LLC purchased a new stake in Salesforce during the first quarter valued at $1,004,000. Janus Henderson Group PLC lifted its position in Salesforce by 2.5% during the first quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock valued at $23,846,000 after purchasing an additional 3,125 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its position in Salesforce by 184.5% during the second quarter. Anchor Investment Management LLC now owns 17,983 shares of the CRM provider’s stock valued at $2,817,000 after purchasing an additional 11,663 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Blair Kirk bought 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The shares were acquired at an average price of $239.33 per share, with a total value of $999,442.08. Following the transaction, the director directly owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.50% of the company’s stock.

Salesforce Trading Down 0.4%

CRM stock opened at $247.69 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The stock has a market capitalization of $203.85 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.26. The firm’s fifty day simple moving average is $235.03 and its two-hundred day simple moving average is $199.47.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating the consensus estimate of $3.27 by $2.63. The business had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, analysts anticipate that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 17th. Salesforce’s dividend payout ratio is 16.04%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Argus lifted their price objective on shares of Salesforce from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, August 31st. Royal Bank Of Canada restated a “sector perform” rating and set a $250.00 target price on shares of Salesforce in a research report on Thursday, September 17th. Mizuho increased their price target on shares of Salesforce from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Salesforce in a research report on Monday, October 12th. They issued a “buy” rating for the company. Finally, BMO Capital Markets lifted their price target on Salesforce from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.98.

Salesforce Company Profile

Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.