Red Tortoise LLC Raises Stock Holdings in Salesforce Inc. $CRM

Red Tortoise LLC grew its position in Salesforce Inc. (NYSE:CRM) by 195.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 322 shares of the CRM provider’s stock after acquiring an additional 213 shares during the quarter. Red Tortoise LLC’s holdings in Salesforce were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Belpointe Asset Management LLC boosted its stake in Salesforce by 19.7% during the 2nd quarter. Belpointe Asset Management LLC now owns 9,256 shares of the CRM provider’s stock worth $2,524,000 after purchasing an additional 1,521 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Salesforce by 1.0% during the second quarter. Valley National Advisers Inc. now owns 9,740 shares of the CRM provider’s stock worth $2,655,000 after buying an additional 96 shares during the period. Eads & Heald Wealth Management grew its holdings in shares of Salesforce by 7.5% during the second quarter. Eads & Heald Wealth Management now owns 3,342 shares of the CRM provider’s stock worth $911,000 after buying an additional 232 shares during the last quarter. Duncan Williams Asset Management LLC grew its holdings in shares of Salesforce by 15.3% during the second quarter. Duncan Williams Asset Management LLC now owns 3,616 shares of the CRM provider’s stock worth $986,000 after buying an additional 480 shares during the last quarter. Finally, Appleton Partners Inc. MA increased its position in Salesforce by 2.6% in the 2nd quarter. Appleton Partners Inc. MA now owns 2,355 shares of the CRM provider’s stock valued at $642,000 after acquiring an additional 59 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the topic of several analyst reports. Canaccord Genuity Group lowered their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Wall Street Zen downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Friday. Macquarie restated a “neutral” rating and issued a $290.00 target price on shares of Salesforce in a research note on Thursday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $325.00 price target on shares of Salesforce in a research note on Thursday, September 4th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $332.58.

Insiders Place Their Bets

In other news, Director David Blair Kirk bought 3,400 shares of the stock in a transaction on Tuesday, September 9th. The shares were bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the acquisition, the director owned 3,824 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $236.38, for a total value of $531,855.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $2,815,657,152.98. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,750 shares of company stock worth $19,747,868. 3.00% of the stock is owned by company insiders.

Salesforce Stock Up 0.6%

Shares of NYSE CRM opened at $240.25 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The firm has a 50-day moving average price of $246.66 and a 200 day moving average price of $260.05. The stock has a market capitalization of $228.72 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the business posted $2.56 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be issued a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce’s payout ratio is currently 24.13%.

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.