Summa Corp. Purchases New Stake in Salesforce Inc. $CRM

Summa Corp. purchased a new stake in Salesforce Inc. (NYSE:CRM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,780 shares of the CRM provider’s stock, valued at approximately $485,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Vanguard Group Inc. increased its stake in Salesforce by 1.6% during the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider’s stock worth $23,592,501,000 after acquiring an additional 1,383,942 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Salesforce by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider’s stock worth $2,484,616,000 after acquiring an additional 600,386 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Salesforce by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider’s stock worth $2,419,037,000 after acquiring an additional 437,435 shares during the last quarter. Nuveen LLC acquired a new stake in Salesforce during the first quarter worth $2,039,196,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Salesforce by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider’s stock worth $1,707,316,000 after acquiring an additional 295,681 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. BMO Capital Markets cut their target price on Salesforce from $335.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Bank of America cut their target price on Salesforce from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Tuesday, August 26th. Wells Fargo & Company lowered their price target on Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a research report on Thursday, September 4th. Oppenheimer lowered their price target on Salesforce from $370.00 to $315.00 and set an “outperform” rating for the company in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein lowered their price target on Salesforce from $255.00 to $221.00 and set an “underperform” rating for the company in a research report on Thursday, September 4th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $331.89.

Salesforce Trading Down 1.3%

NYSE:CRM opened at $242.11 on Friday. The firm has a market cap of $230.49 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19. The stock has a fifty day moving average price of $244.68 and a 200 day moving average price of $258.77. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. 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 released 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 firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business 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. Sell-side analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $248.40, for a total value of $558,900.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,958,834,236.40. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Blair Kirk bought 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was 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 $973,819.84. This trade represents a 801.89% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 78,750 shares of company stock valued at $19,634,805. 3.00% of the stock is currently owned by company insiders.

Salesforce Company 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.