Salesforce Inc. $CRM Shares Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd boosted its position in shares of Salesforce Inc. (NYSE:CRM) by 9.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 78,687 shares of the CRM provider’s stock after acquiring an additional 6,649 shares during the period. Magellan Asset Management Ltd’s holdings in Salesforce were worth $21,457,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Painted Porch Advisors LLC lifted its holdings in Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after buying an additional 65 shares during the last quarter. Capital A Wealth Management LLC lifted its stake in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in Salesforce by 383.3% in the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock valued at $32,000 after purchasing an additional 92 shares during the last quarter. Finally, Maseco LLP acquired a new stake in Salesforce during the second quarter worth approximately $34,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CRM shares. Robert W. Baird dropped their target price on shares of Salesforce from $365.00 to $325.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, October 16th. Macquarie reissued a “neutral” rating and issued a $250.00 target price on shares of Salesforce in a report on Thursday, October 16th. JMP Securities restated a “market outperform” rating and set a $430.00 price target on shares of Salesforce in a research note on Friday, October 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, October 16th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.23.

Insider Activity

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $241.50, for a total transaction of $543,375.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $2,876,644,396.50. This represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David Blair Kirk purchased 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the purchase, the director owned 3,824 shares of the company’s stock, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 74,372 shares of company stock valued at $18,317,866 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.3%

Shares of CRM stock opened at $239.92 on Friday. The company has a market capitalization of $228.40 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. 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 business’s 50 day moving average is $247.41 and its two-hundred day moving average is $258.16. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly 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. 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 business earned $2.56 earnings per share. The company’s quarterly 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. Equities analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce’s 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.