Novem Group Sells 139 Shares of Salesforce Inc. $CRM

Novem Group lowered its position in Salesforce Inc. (NYSE:CRM) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 978 shares of the CRM provider’s stock after selling 139 shares during the period. Novem Group’s holdings in Salesforce were worth $267,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC boosted its holdings in Salesforce by 6.5% in the 2nd quarter. EdgeRock Capital LLC now owns 1,126 shares of the CRM provider’s stock worth $308,000 after buying an additional 69 shares during the period. Patron Partners LLC lifted its stake in Salesforce by 4.5% in the 2nd quarter. Patron Partners LLC now owns 2,294 shares of the CRM provider’s stock worth $626,000 after purchasing an additional 99 shares in the last quarter. BankPlus Wealth Management LLC lifted its stake in Salesforce by 1.9% in the 2nd quarter. BankPlus Wealth Management LLC now owns 2,264 shares of the CRM provider’s stock worth $617,000 after purchasing an additional 42 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Salesforce by 7.2% in the 2nd quarter. Bank Pictet & Cie Europe AG now owns 238,207 shares of the CRM provider’s stock worth $64,957,000 after purchasing an additional 16,100 shares in the last quarter. Finally, Traveka Wealth LLC lifted its stake in Salesforce by 6.0% in the 2nd quarter. Traveka Wealth LLC now owns 2,021 shares of the CRM provider’s stock worth $551,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $243.58 on Friday. The company has a market capitalization of $231.89 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.22 and a beta of 1.22. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The firm’s 50-day moving average is $249.32 and its 200 day moving average is $261.53. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.78 by $0.13. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. Research analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, September 17th. Salesforce’s dividend payout ratio is currently 24.13%.

Insider Transactions at Salesforce

In related news, Director David Blair Kirk bought 3,400 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were acquired at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the purchase, the director directly owned 3,824 shares of the company’s stock, valued at approximately $973,819.84. The trade was a 801.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $269.38, for a total transaction of $606,105.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $3,208,738,995.98. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,750 shares of company stock worth $19,955,745 over the last 90 days. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRM shares. BMO Capital Markets decreased their price target on shares of Salesforce from $335.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Wells Fargo & Company decreased their price target on shares of Salesforce from $275.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 4th. Erste Group Bank cut shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Citigroup boosted their price target on shares of Salesforce from $275.00 to $276.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Finally, Macquarie restated a “neutral” rating and set a $290.00 target price on shares of Salesforce in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $332.58.

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.