Checchi Capital Advisers LLC Sells 973 Shares of Salesforce Inc. $CRM

Checchi Capital Advisers LLC trimmed its stake in shares of Salesforce Inc. (NYSE:CRM) by 5.6% in the second quarter, HoldingsChannel reports. The firm owned 16,358 shares of the CRM provider’s stock after selling 973 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Salesforce were worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC boosted its stake in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares during the period. Bison Wealth LLC boosted its stake in Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after purchasing an additional 184 shares during the period. Foster Group Inc. boosted its stake in Salesforce by 10.9% in the 1st quarter. Foster Group Inc. now owns 1,173 shares of the CRM provider’s stock valued at $315,000 after purchasing an additional 115 shares during the period. Finally, Sovereign Financial Group Inc. boosted its stake in Salesforce by 4.9% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,251 shares of the CRM provider’s stock valued at $336,000 after purchasing an additional 58 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $265.77, for a total value of $597,982.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,165,738,224.67. This represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Blair Kirk acquired 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the completion of the acquisition, the director directly owned 3,824 shares of the company’s stock, valued at $973,819.84. This trade represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 81,000 shares of company stock valued at $20,357,213. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Salesforce from $335.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. JMP Securities reiterated a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a research report on Tuesday, September 2nd. BMO Capital Markets dropped their price objective on Salesforce from $335.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Finally, Royal Bank Of Canada dropped their price objective on Salesforce from $275.00 to $250.00 and set a “sector perform” rating for the company in a report on Thursday, September 4th. Twenty-six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $332.58.

Salesforce Price Performance

Salesforce stock opened at $240.25 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The stock has a market capitalization of $228.72 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The stock has a fifty day moving average of $246.66 and a 200-day moving average of $260.19.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th will be issued a dividend of $0.416 per share. The ex-dividend date is Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce’s dividend payout ratio is 24.13%.

About Salesforce

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.