Praxis Investment Management Inc. Sells 5,800 Shares of Salesforce Inc. $CRM

Praxis Investment Management Inc. reduced its position in shares of Salesforce Inc. (NYSE:CRM) by 30.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,270 shares of the CRM provider’s stock after selling 5,800 shares during the quarter. Praxis Investment Management Inc.’s holdings in Salesforce were worth $3,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Rydar Equities Inc. acquired a new position in shares of Salesforce during the 2nd quarter worth about $229,000. Capital A Wealth Management LLC increased its position in Salesforce by 40.9% during the second quarter. Capital A Wealth Management LLC now owns 155 shares of the CRM provider’s stock worth $41,000 after buying an additional 45 shares during the last quarter. National Wealth Management Group LLC acquired a new position in Salesforce during the second quarter worth approximately $327,000. Dakota Community Bank & Trust NA lifted its position in shares of Salesforce by 8.1% in the second quarter. Dakota Community Bank & Trust NA now owns 639 shares of the CRM provider’s stock valued at $174,000 after buying an additional 48 shares during the last quarter. Finally, Caldwell Trust Co bought a new position in shares of Salesforce during the 2nd quarter worth approximately $4,921,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRM. Wedbush restated an “outperform” rating and issued a $375.00 price target on shares of Salesforce in a research note on Thursday, December 4th. Cowen reissued a “buy” rating on shares of Salesforce in a research report on Thursday, December 4th. Mizuho set a $340.00 target price on shares of Salesforce in a report on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Salesforce in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Salesforce from $380.00 to $365.00 and set an “overweight” rating for the company in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.46.

Salesforce Stock Performance

NYSE CRM opened at $262.34 on Monday. The firm has a 50-day moving average price of $245.50 and a two-hundred day moving average price of $251.92. Salesforce Inc. has a 12-month low of $221.96 and a 12-month high of $367.09. The company has a market capitalization of $245.81 billion, a P/E ratio of 35.03, a P/E/G ratio of 1.95 and a beta of 1.25. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th will be given a $0.416 dividend. The ex-dividend date is Thursday, December 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.6%. Salesforce’s payout ratio is presently 22.16%.

Insider Buying and Selling

In related news, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the transaction, the insider directly owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This trade represents a 49.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 122 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total value of $31,598.00. Following the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 175,284 shares of company stock worth $41,648,819. Corporate insiders own 3.00% of the company’s stock.

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.