Chokshi & Queen Wealth Advisors Inc Buys New Shares in Salesforce Inc. $CRM

Chokshi & Queen Wealth Advisors Inc bought a new stake in Salesforce Inc. (NYSE:CRM) in the second quarter, HoldingsChannel.com reports. The firm bought 1,000 shares of the CRM provider’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Nuveen LLC purchased a new position in Salesforce in the first quarter valued at $2,039,196,000. Longview Partners Guernsey LTD purchased a new stake in Salesforce during the 1st quarter worth about $467,944,000. Pacer Advisors Inc. lifted its holdings in Salesforce by 1,744.0% during the 1st 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. lifted its holdings in Salesforce by 1.6% during the 1st 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 Salesforce during the 1st quarter worth about $345,100,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on CRM shares. Oppenheimer decreased their price target on Salesforce from $370.00 to $315.00 and set an “outperform” rating for the company in a report on Tuesday, August 26th. Robert W. Baird decreased their price target on Salesforce from $365.00 to $325.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Canaccord Genuity Group decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Northland Capmk downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. Finally, UBS Group cut their target price on Salesforce from $300.00 to $260.00 and set a “neutral” rating on the stock in a research report on Monday, August 18th. Twenty-five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $325.23.

Salesforce Stock Up 3.6%

CRM opened at $263.51 on Wednesday. The business’s 50-day simple moving average is $245.46 and its 200-day simple moving average is $257.92. 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 one year low of $226.48 and a one year high of $369.00. The stock has a market capitalization of $250.86 billion, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, September 17th. Salesforce’s payout ratio is 24.13%.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $241.49, for a total transaction of $543,352.50. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $2,876,525,280.79. The trade was a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Blair Kirk bought 3,400 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were acquired at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the transaction, the director directly owned 3,824 shares in the company, valued at $973,819.84. This trade represents a 801.89% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 78,750 shares of company stock worth $19,448,213 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Salesforce 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.