New York State Common Retirement Fund Sells 2,937 Shares of Salesforce Inc. $CRM

New York State Common Retirement Fund cut its stake in Salesforce Inc. (NYSE:CRM) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,202,647 shares of the CRM provider’s stock after selling 2,937 shares during the period. New York State Common Retirement Fund owned 0.13% of Salesforce worth $327,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Brighton Jones LLC raised its holdings in 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 purchasing an additional 3,102 shares in 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 valued at $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC grew its position in shares of Salesforce by 9.0% in 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. Fiera Capital Corp increased its stake in shares of Salesforce by 49.0% in the 1st quarter. Fiera Capital Corp now owns 931 shares of the CRM provider’s stock worth $250,000 after acquiring an additional 306 shares in the last quarter. Finally, Davis R M Inc. lifted its position in Salesforce by 6.5% during the 1st quarter. Davis R M Inc. now owns 3,051 shares of the CRM provider’s stock valued at $819,000 after acquiring an additional 186 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CRM shares. Oppenheimer cut their price objective on shares of Salesforce from $370.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, August 26th. Barclays dropped their price target on Salesforce from $347.00 to $316.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. KeyCorp cut their price target on Salesforce from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, September 4th. Wells Fargo & Company reduced their price objective on Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a research report on Thursday, September 4th. Finally, Mizuho dropped their target price on Salesforce from $350.00 to $340.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.86.

Insider Activity

In related news, Director David Blair Kirk acquired 3,400 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director directly owned 3,824 shares in the company, valued at approximately $973,819.84. This trade represents a 801.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $242.91, for a total transaction of $546,547.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $2,893,439,711.61. This represents a 0.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,122 shares of company stock worth $13,367,438 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $230.79 on Friday. The firm has a market cap of $219.71 billion, a P/E ratio of 33.55, a PEG ratio of 2.11 and a beta of 1.19. Salesforce Inc. has a twelve month low of $221.96 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. The company has a 50 day moving average of $243.45 and a 200 day moving average of $254.50.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $2.56 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. 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, research analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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