Salesforce Inc. $CRM Position Lowered by Everest Financial Group LLC

Everest Financial Group LLC reduced its stake in Salesforce Inc. (NYSE:CRM) by 25.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 18,672 shares of the CRM provider’s stock after selling 6,448 shares during the quarter. Everest Financial Group LLC’s holdings in Salesforce were worth $4,287,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Thor Investment Management Inc. OH ADV increased its holdings in Salesforce by 0.7% during the third quarter. Thor Investment Management Inc. OH ADV now owns 6,422 shares of the CRM provider’s stock worth $1,474,000 after buying an additional 45 shares during the last quarter. Bradley & Co. Private Wealth Management LLC boosted its stake in Salesforce by 9.6% in the third quarter. Bradley & Co. Private Wealth Management LLC now owns 558 shares of the CRM provider’s stock valued at $128,000 after acquiring an additional 49 shares during the last quarter. Crumly & Associates Inc. boosted its stake in Salesforce by 1.5% in the third quarter. Crumly & Associates Inc. now owns 3,396 shares of the CRM provider’s stock valued at $780,000 after acquiring an additional 50 shares during the last quarter. Meridian Financial Partners LLC grew its position in shares of Salesforce by 1.1% during the 3rd quarter. Meridian Financial Partners LLC now owns 4,700 shares of the CRM provider’s stock valued at $1,160,000 after acquiring an additional 50 shares during the period. Finally, Peterson Wealth Services grew its position in shares of Salesforce by 3.6% during the 3rd quarter. Peterson Wealth Services now owns 1,549 shares of the CRM provider’s stock valued at $356,000 after acquiring an additional 54 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CRM shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $250.00 price target on shares of Salesforce in a report on Thursday, September 17th. DA Davidson increased their price objective on Salesforce from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Argus raised their target price on Salesforce from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Zacks Research upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Finally, BMO Capital Markets upped their price target on Salesforce from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, September 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.98.

Insider Transactions at Salesforce

In related news, Director David Blair Kirk purchased 4,176 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were purchased at an average cost of $239.33 per share, for a total transaction 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. This represents a 28.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig Conway sold 4,500 shares of the stock in a transaction dated 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 sale, the director directly owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.

Salesforce Stock Down 0.3%

Salesforce stock opened at $217.38 on Friday. The firm has a 50 day simple moving average of $236.19 and a 200 day simple moving average of $198.42. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The firm has a market capitalization of $178.91 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 0.99 and a beta of 1.24.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The firm had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same quarter in the prior year, the business posted $2.91 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. 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, analysts predict that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Salesforce’s dividend payout ratio is 16.04%.

Salesforce Profile

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.