Cresset Asset Management LLC Has $18.75 Million Stock Holdings in Salesforce Inc. $CRM

Cresset Asset Management LLC boosted its holdings in shares of Salesforce Inc. (NYSE:CRM) by 13.5% during the second quarter, HoldingsChannel reports. The fund owned 68,668 shares of the CRM provider’s stock after purchasing an additional 8,160 shares during the quarter. Cresset Asset Management LLC’s holdings in Salesforce were worth $18,754,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Salesforce by 1.0% in the second quarter. Vanguard Group Inc. now owns 88,823,481 shares of the CRM provider’s stock valued at $24,221,275,000 after purchasing an additional 909,853 shares during the period. Geode Capital Management LLC grew its position in shares of Salesforce by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock valued at $5,669,224,000 after buying an additional 114,504 shares during the last quarter. Norges Bank acquired a new stake in shares of Salesforce in the second quarter valued at about $2,826,049,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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. Finally, Amundi lifted its stake in shares of Salesforce by 26.2% in the second quarter. Amundi now owns 7,755,317 shares of the CRM provider’s stock worth $2,087,545,000 after acquiring an additional 1,612,413 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America decreased their target price on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Barclays lifted their target price on shares of Salesforce from $316.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Thursday. Northland Securities lifted their price objective on Salesforce from $264.00 to $267.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, BMO Capital Markets dropped their price objective on Salesforce from $280.00 to $275.00 and set an “outperform” rating on the stock in a research note on Thursday. Twenty-nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $326.54.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 122 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $259.00, for a total transaction of $31,598.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $3,085,096,889. The trade was a 0.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 134,662 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the transaction, the insider directly owned 139,767 shares in the company, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 184,284 shares of company stock valued at $43,862,999. 3.00% of the stock is currently owned by insiders.

Salesforce Price Performance

CRM stock opened at $260.78 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 1.12. The company’s 50-day moving average is $243.26 and its 200-day moving average is $252.88. The stock has a market capitalization of $248.26 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 1.94 and a beta of 1.25. Salesforce Inc. has a 1 year low of $221.96 and a 1 year high of $367.15.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. The business had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 24.13%.

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.