NorthRock Partners LLC Sells 3,419 Shares of Salesforce Inc. $CRM

NorthRock Partners LLC reduced its stake in Salesforce Inc. (NYSE:CRMFree Report) by 16.3% during the second quarter, Holdings Channel.com reports. The fund owned 17,581 shares of the CRM provider’s stock after selling 3,419 shares during the period. NorthRock Partners LLC’s holdings in Salesforce were worth $4,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Verdence Capital Advisors LLC lifted its stake in shares of Salesforce by 2.6% in the second quarter. Verdence Capital Advisors LLC now owns 2,275 shares of the CRM provider’s stock worth $620,000 after acquiring an additional 57 shares during the period. Westchester Capital Management Inc. acquired a new position in shares of Salesforce in the second quarter worth approximately $12,151,000. Delaney Dennis R lifted its stake in shares of Salesforce by 24.7% in the second quarter. Delaney Dennis R now owns 7,102 shares of the CRM provider’s stock worth $1,937,000 after acquiring an additional 1,408 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Salesforce by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 82,912 shares of the CRM provider’s stock worth $22,609,000 after acquiring an additional 778 shares during the period. Finally, Concord Asset Management LLC VA lifted its stake in shares of Salesforce by 18.5% in the second quarter. Concord Asset Management LLC VA now owns 9,479 shares of the CRM provider’s stock worth $2,585,000 after acquiring an additional 1,480 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRM shares. Wall Street Zen raised Salesforce from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup boosted their price target on Salesforce from $275.00 to $276.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Sanford C. Bernstein dropped their price target on Salesforce from $255.00 to $221.00 and set an “underperform” rating on the stock in a research note on Thursday, September 4th. Bank of America dropped their price target on Salesforce from $350.00 to $325.00 and set a “buy” rating on the stock in a research note on Tuesday, August 26th. Finally, UBS Group dropped their price target on Salesforce from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, August 18th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $331.89.

View Our Latest Research Report on CRM

Salesforce Trading Down 1.3%

NYSE CRM opened at $242.11 on Monday. The company has a market cap of $230.49 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.09 and a beta of 1.19. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The business has a 50 day moving average price of $244.68 and a 200-day moving average price of $258.64. 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 (NYSE:CRMGet Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. Salesforce’s revenue 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. As a group, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $239.79, for a total transaction of $539,527.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $2,856,275,610.09. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 76,500 shares of company stock worth $19,049,130 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Salesforce Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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