Shorepoint Capital Partners LLC Takes Position in Salesforce Inc. $CRM

Shorepoint Capital Partners LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,523 shares of the CRM provider’s stock, valued at approximately $2,494,000.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Salesforce during the second quarter worth about $2,826,049,000. Laurel Wealth Advisors LLC increased its position in Salesforce by 27,361.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,424,169 shares of the CRM provider’s stock valued at $933,737,000 after acquiring an additional 3,411,700 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Salesforce by 1,729.6% during the second quarter. Acadian Asset Management LLC now owns 1,973,141 shares of the CRM provider’s stock worth $538,020,000 after purchasing an additional 1,865,297 shares during the period. Longview Partners Guernsey LTD bought a new stake in shares of Salesforce in the 1st quarter valued at about $467,944,000. Finally, Amundi raised its position in shares of Salesforce by 26.2% during 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 last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of a number of research analyst reports. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Salesforce in a research report on Thursday, December 4th. Oppenheimer dropped their price objective on shares of Salesforce from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, December 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Salesforce in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Finally, Citigroup cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $326.46.

Salesforce Stock Performance

Shares of CRM stock opened at $254.30 on Tuesday. The firm’s 50-day simple moving average is $245.67 and its two-hundred day simple moving average is $251.83. Salesforce Inc. has a 52 week low of $221.96 and a 52 week high of $367.09. The firm has a market cap of $238.28 billion, a price-to-earnings ratio of 33.95, a P/E/G ratio of 1.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping the consensus estimate 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%. Salesforce’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities analysts forecast 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. Investors of record on Thursday, December 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 18th. Salesforce’s dividend payout ratio is currently 22.16%.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 134,662 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total value of $31,605,171.40. Following the completion of the sale, the insider owned 139,767 shares in the company, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director G Mason Morfit bought 96,000 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the acquisition, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. The trade was a 3.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 175,284 shares of company stock valued at $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.