Concentric Capital Strategies LP Cuts Stake in Salesforce Inc. $CRM

Concentric Capital Strategies LP reduced its position in Salesforce Inc. (NYSE:CRM) by 70.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,144 shares of the CRM provider’s stock after selling 17,328 shares during the quarter. Concentric Capital Strategies LP’s holdings in Salesforce were worth $1,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AIA Group Ltd grew its holdings in Salesforce by 8.0% in the first quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider’s stock worth $8,825,000 after purchasing an additional 2,436 shares during the last quarter. Notis McConarty Edward grew its holdings in Salesforce by 71.6% in the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider’s stock worth $1,032,000 after purchasing an additional 1,604 shares during the last quarter. Aberdeen Group plc grew its holdings in Salesforce by 1.5% in the first quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider’s stock worth $274,802,000 after purchasing an additional 15,782 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its holdings in Salesforce by 43.0% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider’s stock worth $28,133,000 after purchasing an additional 31,537 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its holdings in Salesforce by 121.9% in the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider’s stock worth $95,222,000 after purchasing an additional 195,000 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Morgan Stanley lifted their price objective on shares of Salesforce from $404.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Erste Group Bank downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Canaccord Genuity Group lowered their price objective on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $341.50.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $257.02, for a total transaction of $578,295.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 63,827 shares of company stock worth $16,342,398 in the last three months. Insiders own 3.00% of the company’s stock.

Salesforce Trading Up 1.6%

NYSE CRM opened at $256.87 on Thursday. The company has a market capitalization of $245.57 billion, a PE ratio of 40.20, a P/E/G ratio of 2.33 and a beta of 1.22. The company has a fifty day moving average of $256.61 and a 200 day moving average of $268.18. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

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.