Summa Corp. Takes Position in Salesforce Inc. $CRM

Summa Corp. acquired a new stake in Salesforce Inc. (NYSE:CRM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,780 shares of the CRM provider’s stock, valued at approximately $485,000.

A number of other hedge funds have also modified their holdings of CRM. Nuveen LLC acquired a new position in shares of Salesforce in the first quarter valued at about $2,039,196,000. Longview Partners Guernsey LTD purchased a new stake in shares of Salesforce in the first quarter worth about $467,944,000. Pacer Advisors Inc. boosted its stake in shares of Salesforce by 1,744.0% in the first quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider’s stock worth $488,486,000 after buying an additional 1,721,550 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Salesforce by 1.6% in the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider’s stock worth $23,592,501,000 after buying an additional 1,383,942 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of Salesforce in the first quarter worth about $345,100,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David Blair Kirk bought 3,400 shares of Salesforce stock in a transaction on Tuesday, September 9th. The stock was acquired 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. The trade was a 801.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $248.40, for a total value of $558,900.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $2,958,834,236.40. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,750 shares of company stock valued at $19,634,805 in the last three months. Insiders own 3.00% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $242.11 on Friday. The company has a market capitalization of $230.49 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.09 and a beta of 1.19. The business’s 50 day moving average is $244.68 and its two-hundred day moving average is $258.77. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were issued a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce’s dividend payout ratio is presently 24.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRM shares. Sanford C. Bernstein lowered their target price on Salesforce from $255.00 to $221.00 and set an “underperform” rating on the stock in a research note on Thursday, September 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Salesforce in a research note on Saturday, September 27th. BMO Capital Markets lowered their target price on Salesforce from $335.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. UBS Group lowered their target price on Salesforce from $300.00 to $260.00 and set a “neutral” rating on the stock in a research note on Monday, August 18th. Finally, Canaccord Genuity Group lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Twenty-six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $331.89.

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.