TenCore Partners LP Reduces Holdings in Salesforce Inc. $CRM

TenCore Partners LP decreased its stake in shares of Salesforce Inc. (NYSE:CRM) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 44,613 shares of the CRM provider’s stock after selling 6,080 shares during the quarter. Salesforce accounts for about 5.5% of TenCore Partners LP’s investment portfolio, making the stock its 7th biggest position. TenCore Partners LP’s holdings in Salesforce were worth $12,166,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC increased its stake in Salesforce by 27,188.9% during the second quarter. New Millennium Group LLC now owns 9,824 shares of the CRM provider’s stock valued at $2,679,000 after acquiring an additional 9,788 shares during the period. Moors & Cabot Inc. increased its position in shares of Salesforce by 1.2% during the second quarter. Moors & Cabot Inc. now owns 39,288 shares of the CRM provider’s stock valued at $10,714,000 after purchasing an additional 450 shares during the period. Arrowroot Family Office LLC bought a new stake in shares of Salesforce during the second quarter valued at approximately $1,515,000. GPS Wealth Strategies Group LLC increased its position in shares of Salesforce by 4.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 4,913 shares of the CRM provider’s stock valued at $1,340,000 after purchasing an additional 187 shares during the period. Finally, FWG Holdings LLC increased its position in shares of Salesforce by 11.1% during the second quarter. FWG Holdings LLC now owns 1,454 shares of the CRM provider’s stock valued at $367,000 after purchasing an additional 145 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of CRM stock opened at $254.54 on Wednesday. The firm’s 50 day moving average is $247.99 and its 200-day moving average is $258.30. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $242.32 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 2.11 and a beta of 1.19.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the business posted $2.56 earnings per share. Salesforce’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. Sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 122 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total transaction of $31,598.00. Following the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $3,085,096,889. This represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 76,622 shares of company stock worth $18,858,631 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, September 4th. UBS Group decreased their price objective on Salesforce from $300.00 to $260.00 and set a “neutral” rating on the stock in a report on Monday, August 18th. Royal Bank Of Canada decreased their price objective on Salesforce from $275.00 to $250.00 and set a “sector perform” rating on the stock in a report on Thursday, September 4th. Roth Capital reaffirmed a “buy” rating and set a $395.00 price objective on shares of Salesforce in a report on Thursday, September 4th. Finally, Sanford C. Bernstein decreased their price target on Salesforce from $255.00 to $221.00 and set an “underperform” rating on the stock in a research note on Thursday, September 4th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $325.23.

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.