Salesforce (NYSE:CRM) Director Craig Conway Sells 4,500 Shares of Stock

Salesforce Inc. (NYSE:CRM) Director Craig Conway sold 4,500 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Salesforce Stock Down 1.9%

Shares of NYSE CRM opened at $259.39 on Friday. The company has a 50 day simple moving average of $191.88 and a 200-day simple moving average of $185.00. The company has a market capitalization of $213.48 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.23 and a beta of 1.20. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. Salesforce’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities research analysts predict that Salesforce Inc. will post 12.64 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, September 17th. Salesforce’s dividend payout ratio is 16.04%.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Macquarie Infrastructure cut their price objective on Salesforce from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Truist Financial reaffirmed a “buy” rating and issued a $300.00 target price (up from $280.00) on shares of Salesforce in a research report on Thursday, August 27th. Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup increased their price target on shares of Salesforce from $204.00 to $233.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Finally, BTIG Research reaffirmed a “buy” rating and set a $300.00 target price on shares of Salesforce in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $266.50.

Hedge Funds Weigh In On Salesforce

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its stake in shares of Salesforce by 23.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,424 shares of the CRM provider’s stock worth $536,000 after buying an additional 659 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Salesforce in the second quarter worth approximately $48,110,000. California State Teachers Retirement System grew its holdings in Salesforce by 13,260.5% during the 2nd quarter. California State Teachers Retirement System now owns 188,085,056 shares of the CRM provider’s stock worth $29,465,405,000 after acquiring an additional 186,677,290 shares in the last quarter. DMC Group LLC increased its position in shares of Salesforce by 43.5% in the 2nd quarter. DMC Group LLC now owns 2,457 shares of the CRM provider’s stock valued at $385,000 after purchasing an additional 745 shares during the last quarter. Finally, Ameritas Advisory Services LLC raised its holdings in shares of Salesforce by 154.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 11,477 shares of the CRM provider’s stock valued at $1,798,000 after purchasing an additional 6,974 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Key Salesforce News

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

About Salesforce

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.