OVERSEA CHINESE BANKING Corp Ltd Raises Position in Salesforce Inc. $CRM

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Salesforce Inc. (NYSE:CRM) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 158,623 shares of the CRM provider’s stock after buying an additional 5,864 shares during the period. Salesforce accounts for approximately 0.9% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 23rd largest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Salesforce were worth $37,778,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Painted Porch Advisors LLC grew its position in Salesforce by 260.0% during the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after acquiring an additional 65 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Salesforce during the third quarter worth $26,000. Evolution Wealth Management Inc. acquired a new position in Salesforce in the 2nd quarter worth $27,000. Maseco LLP purchased a new position in Salesforce in the second quarter valued at about $34,000. Finally, Quaker Wealth Management LLC grew its position in shares of Salesforce by 208.6% during the second quarter. Quaker Wealth Management LLC now owns 126 shares of the CRM provider’s stock worth $34,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $258.20, for a total transaction of $580,950.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $3,075,567,632.20. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 134,662 shares of the stock in a transaction 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 completion of the transaction, the insider owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This trade represents a 49.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 150,534 shares of company stock worth $35,636,954 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price objective on shares of Salesforce in a report on Thursday, December 4th. Oppenheimer cut their price objective on shares of Salesforce from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, December 1st. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research report on Thursday, December 4th. Bank of America lowered their target price on Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Finally, Macquarie raised their price target on Salesforce from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $326.50.

Salesforce Trading Down 0.7%

Shares of Salesforce stock opened at $239.47 on Thursday. The business has a fifty day simple moving average of $249.74 and a 200-day simple moving average of $251.04. Salesforce Inc. has a fifty-two week low of $221.96 and a fifty-two week high of $367.09. The firm has a market cap of $224.38 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. 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 issued 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. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The company had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the prior year, the company earned $2.41 EPS. Salesforce’s revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, equities analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were given a $0.416 dividend. The ex-dividend date was Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce’s payout ratio is 22.16%.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.