Cigna Investments Inc. New Sells 124 Shares of Salesforce Inc. $CRM

Cigna Investments Inc. New reduced its stake in Salesforce Inc. (NYSE:CRM) by 1.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,206 shares of the CRM provider’s stock after selling 124 shares during the period. Cigna Investments Inc. New’s holdings in Salesforce were worth $2,510,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. BCS Wealth Management bought a new position in Salesforce in the second quarter worth about $229,000. Norden Group LLC raised its stake in Salesforce by 1.0% in the second quarter. Norden Group LLC now owns 6,156 shares of the CRM provider’s stock worth $1,679,000 after buying an additional 59 shares in the last quarter. DB Fitzpatrick & Co Inc raised its stake in Salesforce by 2.2% in the second quarter. DB Fitzpatrick & Co Inc now owns 3,230 shares of the CRM provider’s stock worth $881,000 after buying an additional 69 shares in the last quarter. Accurate Wealth Management LLC raised its stake in Salesforce by 18.7% in the second quarter. Accurate Wealth Management LLC now owns 5,549 shares of the CRM provider’s stock worth $1,466,000 after buying an additional 873 shares in the last quarter. Finally, Maseco LLP bought a new position in Salesforce in the second quarter worth about $34,000. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Westpark Capital restated a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Royal Bank Of Canada cut their price objective on shares of Salesforce from $275.00 to $250.00 and set a “sector perform” rating on the stock in a report on Thursday, September 4th. DA Davidson upgraded shares of Salesforce from an “underperform” rating to a “neutral” rating and set a $225.00 price objective on the stock in a report on Friday, August 15th. Stephens cut their price objective on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Finally, Piper Sandler cut their price objective on shares of Salesforce from $335.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $332.58.

Insider Activity at Salesforce

In other Salesforce news, Director David Blair Kirk purchased 3,400 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director owned 3,824 shares of the company’s stock, valued at approximately $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $269.38, for a total transaction of $606,105.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $3,208,738,995.98. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,500 shares of company stock worth $19,402,583 over the last quarter. Insiders own 3.00% of the company’s stock.

Salesforce Stock Down 2.1%

Shares of Salesforce stock opened at $244.46 on Wednesday. The company has a market cap of $232.73 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22. The company’s 50 day moving average is $250.31 and its 200 day moving average is $262.25. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 16.87% and a return on equity of 13.27%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

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

About Salesforce

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.