64,070 Shares in Salesforce Inc. $CRM Purchased by Cacti Asset Management LLC

Cacti Asset Management LLC acquired a new stake in Salesforce Inc. (NYSE:CRM) in the third quarter, Holdings Channel.com reports. The firm acquired 64,070 shares of the CRM provider’s stock, valued at approximately $14,436,000. Salesforce makes up approximately 0.8% of Cacti Asset Management LLC’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its position in shares of Salesforce by 11.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 43,398 shares of the CRM provider’s stock valued at $6,790,000 after purchasing an additional 4,618 shares during the period. Andra AP fonden lifted its stake in Salesforce by 4,855.1% in the 2nd quarter. Andra AP fonden now owns 168,472 shares of the CRM provider’s stock valued at $26,393,000 after buying an additional 165,072 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in Salesforce in the 2nd quarter valued at about $52,000. Wellington Altus USA Inc. boosted its holdings in Salesforce by 117.2% in the 2nd quarter. Wellington Altus USA Inc. now owns 315 shares of the CRM provider’s stock worth $49,000 after buying an additional 170 shares during the last quarter. Finally, Anchor Investment Management LLC increased its stake in Salesforce by 184.5% during the 2nd quarter. Anchor Investment Management LLC now owns 17,983 shares of the CRM provider’s stock worth $2,817,000 after buying an additional 11,663 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, Director Craig Conway sold 4,500 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares in the company, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Blair Kirk acquired 4,176 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average cost of $239.33 per share, with a total value of $999,442.08. Following the completion of the transaction, the director directly owned 18,748 shares in the company, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.50% of the company’s stock.

Salesforce Trading Up 1.5%

Salesforce stock traded up $3.36 during midday trading on Thursday, hitting $232.93. 3,663,437 shares of the stock were exchanged, compared to its average volume of 13,891,379. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock’s 50-day simple moving average is $219.02 and its 200 day simple moving average is $191.22. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The stock has a market capitalization of $191.70 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.03 and a beta of 1.20.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating the consensus estimate of $3.27 by $2.63. The business had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities analysts anticipate that Salesforce Inc. will post 12.82 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Salesforce’s payout ratio is currently 16.04%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $250.00 price target on shares of Salesforce in a research report on Thursday, September 17th. Phillip Securities lowered Salesforce from a “buy” rating to a “hold” rating and decreased their price objective for the company from $253.00 to $166.00 in a report on Monday, June 29th. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a research note on Thursday, August 27th. Finally, Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.14.

Salesforce Company Profile

Salesforce, Inc (NYSE: CRM) develops cloud-based customer relationship management (CRM) software and enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, analytics, data integration and collaboration through subscription-based services.

The company’s product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Salesforce Platform, Data Cloud and Tableau. Salesforce also offers MuleSoft integration technology, Slack collaboration software and artificial intelligence capabilities through its Einstein platform.