Jennison Associates LLC Lowers Holdings in Salesforce Inc. $CRM

Jennison Associates LLC cut its position in Salesforce Inc. (NYSE:CRM) by 44.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,999,019 shares of the CRM provider’s stock after selling 1,570,881 shares during the quarter. Jennison Associates LLC’s holdings in Salesforce were worth $545,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after buying an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its position 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 valued at $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC raised its position 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 valued at $747,000 after buying an additional 184 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Salesforce by 23.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,931 shares of the CRM provider’s stock valued at $518,000 after buying an additional 370 shares in the last quarter. Finally, Koshinski Asset Management Inc. raised its position in shares of Salesforce by 1.3% during the 1st quarter. Koshinski Asset Management Inc. now owns 7,182 shares of the CRM provider’s stock valued at $1,927,000 after buying an additional 92 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Oppenheimer lowered their price objective on shares of Salesforce from $370.00 to $315.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 26th. Weiss Ratings restated a “hold (c)” rating on shares of Salesforce in a research report on Tuesday, October 14th. Wells Fargo & Company lowered their price objective on shares of Salesforce from $275.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 4th. JPMorgan Chase & Co. lowered their price objective on shares of Salesforce from $380.00 to $365.00 and set an “overweight” rating on the stock in a research report on Thursday, September 4th. Finally, Citigroup lifted their target price on shares of Salesforce from $275.00 to $276.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Twenty-five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.23.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $256.13, for a total value of $576,292.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $3,050,910,680.23. This trade represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 78,750 shares of company stock valued at $19,372,703. 3.00% of the stock is owned by company insiders.

Salesforce Trading Down 0.4%

Shares of CRM stock opened at $254.40 on Wednesday. The stock has a market capitalization of $242.19 billion, a PE ratio of 36.98, a P/E/G ratio of 2.14 and a beta of 1.19. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00. The business has a 50-day moving average of $246.93 and a 200 day moving average of $258.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter 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, sell-side analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 17th. Salesforce’s dividend payout ratio (DPR) is 24.13%.

Salesforce 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.