M&T Bank Corp Lowers Stake in Salesforce Inc. $CRM

M&T Bank Corp cut its stake in Salesforce Inc. (NYSE:CRM) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,684 shares of the CRM provider’s stock after selling 16,156 shares during the quarter. M&T Bank Corp’s holdings in Salesforce were worth $43,545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares in the last quarter. Bison Wealth LLC lifted its position in Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after acquiring an additional 184 shares during the last quarter. Manchester Capital Management LLC boosted its stake in Salesforce by 3.1% in the first quarter. Manchester Capital Management LLC now owns 1,330 shares of the CRM provider’s stock valued at $357,000 after acquiring an additional 40 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Salesforce by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 334,028 shares of the CRM provider’s stock worth $89,640,000 after purchasing an additional 13,213 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Salesforce from $400.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Roth Capital reaffirmed a “buy” rating and set a $395.00 target price on shares of Salesforce in a research report on Thursday, September 4th. Canaccord Genuity Group lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, September 4th. 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. Finally, Wells Fargo & Company cut their price objective 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. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $322.43.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Monday, September 8th. The shares were sold at an average price of $251.12, for a total value of $565,020.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at approximately $2,991,233,709.52. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Blair Kirk bought 3,400 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 51,872 shares of company stock valued at $12,801,203. Corporate insiders own 3.00% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $232.71 on Tuesday. The firm has a market cap of $221.54 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.11 and a beta of 1.19. Salesforce Inc. has a one year low of $221.96 and a one year high of $369.00. The firm’s fifty day moving average is $243.12 and its two-hundred day moving average is $253.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating 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 company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the business earned $2.56 earnings per share. Salesforce’s quarterly revenue was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. Research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared 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 of this dividend 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 is presently 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.