Somerville Kurt F Acquires 3,635 Shares of Salesforce Inc. $CRM

Somerville Kurt F grew its holdings in Salesforce Inc. (NYSE:CRM) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,824 shares of the CRM provider’s stock after purchasing an additional 3,635 shares during the period. Somerville Kurt F’s holdings in Salesforce were worth $5,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mirova US LLC increased its holdings in shares of Salesforce by 4.4% in the 2nd quarter. Mirova US LLC now owns 679,213 shares of the CRM provider’s stock worth $185,215,000 after purchasing an additional 28,818 shares in the last quarter. REAP Financial Group LLC increased its holdings in shares of Salesforce by 60.2% in the 2nd quarter. REAP Financial Group LLC now owns 314 shares of the CRM provider’s stock worth $86,000 after purchasing an additional 118 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in shares of Salesforce by 40.6% in the 2nd quarter. Sax Wealth Advisors LLC now owns 4,773 shares of the CRM provider’s stock worth $1,302,000 after purchasing an additional 1,378 shares in the last quarter. WestEnd Advisors LLC increased its holdings in shares of Salesforce by 8.7% in the 2nd quarter. WestEnd Advisors LLC now owns 153,812 shares of the CRM provider’s stock worth $41,944,000 after purchasing an additional 12,270 shares in the last quarter. Finally, DMC Group LLC bought a new stake in shares of Salesforce in the 2nd quarter worth $205,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $241.32, for a total value of $542,970.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,874,500,313.72. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 78,750 shares of company stock worth $19,679,535 over the last three months. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CRM. KeyCorp reduced their target price on Salesforce from $440.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, September 4th. Citigroup lifted their price objective on Salesforce from $275.00 to $276.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Robert W. Baird cut their price objective on Salesforce from $365.00 to $325.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Salesforce from $400.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Finally, Stifel Nicolaus cut their price objective on Salesforce from $375.00 to $325.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $332.58.

Salesforce Stock Performance

NYSE:CRM opened at $239.91 on Wednesday. The stock has a 50-day simple moving average of $245.62 and a two-hundred day simple moving average of $259.67. 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. The firm has a market capitalization of $228.40 billion, a PE ratio of 34.87, a P/E/G ratio of 2.12 and a beta of 1.19.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the company posted $2.56 earnings per share. Salesforce’s revenue for the quarter was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

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