Salesforce Inc. $CRM Stock Holdings Lowered by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its holdings in Salesforce Inc. (NYSE:CRM) by 30.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,068 shares of the CRM provider’s stock after selling 897 shares during the quarter. Griffin Asset Management Inc.’s holdings in Salesforce were worth $564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co raised its holdings in shares of Salesforce by 30.1% in the 2nd quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider’s stock worth $7,577,000 after purchasing an additional 6,430 shares in the last quarter. Neville Rodie & Shaw Inc. raised its holdings in shares of Salesforce by 4.6% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 59,970 shares of the CRM provider’s stock worth $16,353,000 after purchasing an additional 2,644 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Salesforce in the 1st quarter worth approximately $9,367,000. Jones Financial Companies Lllp raised its holdings in shares of Salesforce by 31.2% in the 1st quarter. Jones Financial Companies Lllp now owns 344,887 shares of the CRM provider’s stock worth $93,016,000 after purchasing an additional 81,916 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in shares of Salesforce by 6.8% in the 2nd quarter. Wesbanco Bank Inc. now owns 110,968 shares of the CRM provider’s stock worth $30,260,000 after purchasing an additional 7,091 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

CRM stock opened at $242.11 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. The company has a market capitalization 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 12 month low of $226.48 and a 12 month high of $369.00. The firm has a 50 day moving average of $244.68 and a two-hundred day moving average of $258.64.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate 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 16.87% and a return on equity of 13.27%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. 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. As a group, equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed 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. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 17th. Salesforce’s dividend payout ratio is currently 24.13%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer cut their price target on shares of Salesforce from $370.00 to $315.00 and set an “outperform” rating on the stock in a report on Tuesday, August 26th. Wells Fargo & Company cut their price target on shares of Salesforce from $275.00 to $265.00 and set an “equal weight” rating on the stock in a report on Thursday, September 4th. Roth Capital restated a “buy” rating and set a $395.00 price target on shares of Salesforce in a report on Thursday, September 4th. Barclays cut their price target on shares of Salesforce from $347.00 to $316.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Finally, Macquarie restated a “neutral” rating and set a $290.00 price target on shares of Salesforce in a report on Thursday, September 4th. Twenty-six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $331.89.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were 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 directly owned 11,911,571 shares of the company’s stock, valued at approximately $2,856,275,610.09. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 76,500 shares of company stock worth $19,049,130. 3.00% of the stock is currently owned by corporate insiders.

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.