Hartford Investment Management Co. Sells 527 Shares of Salesforce Inc. $CRM

Hartford Investment Management Co. trimmed its holdings in Salesforce Inc. (NYSE:CRM) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 57,856 shares of the CRM provider’s stock after selling 527 shares during the quarter. Hartford Investment Management Co.’s holdings in Salesforce were worth $15,777,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings 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 buying an additional 205 shares during the period. Bison Wealth LLC boosted its holdings 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 buying an additional 184 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth $872,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Salesforce during the 4th quarter worth $35,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other news, Director David Blair Kirk purchased 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the acquisition, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $269.38, for a total transaction of $606,105.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $3,208,738,995.98. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,750 shares of company stock valued at $19,955,745 over the last ninety days. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, September 4th. Macquarie reaffirmed a “neutral” rating and set a $290.00 price objective on shares of Salesforce in a report on Thursday, September 4th. Northland Securities decreased their price objective on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. Erste Group Bank downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, Citigroup increased their price target on shares of Salesforce from $275.00 to $276.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $332.58.

Salesforce Price Performance

NYSE:CRM opened at $240.93 on Friday. The company has a 50-day moving average of $249.70 and a 200-day moving average of $261.92. The company has a market capitalization of $229.37 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 2.24 and a beta of 1.22. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The company had revenue of $10.24 billion during 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 period last year, the firm 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 research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

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.