State of Alaska Department of Revenue Sells 4,888 Shares of Salesforce Inc. $CRM

State of Alaska Department of Revenue trimmed its position in shares of Salesforce Inc. (NYSE:CRM) by 4.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,837 shares of the CRM provider’s stock after selling 4,888 shares during the period. State of Alaska Department of Revenue’s holdings in Salesforce were worth $24,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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 period. Evolution Wealth Management Inc. bought a new position in Salesforce during the second quarter worth $27,000. CBIZ Investment Advisory Services LLC increased its position in Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after buying an additional 85 shares in the last quarter. Christopher J. Hasenberg Inc increased its holdings in shares of Salesforce by 383.3% during the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock valued at $32,000 after acquiring an additional 92 shares in the last quarter. Finally, Maseco LLP acquired a new position in Salesforce during the second quarter worth $34,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRM. Robert W. Baird reduced their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Thursday, December 4th. Guggenheim restated a “neutral” rating on shares of Salesforce in a research report on Thursday, December 4th. Stifel Nicolaus decreased their target price on Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Barclays increased their price target on shares of Salesforce from $316.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $327.74.

Insider Transactions at Salesforce

In other news, Director G Mason Morfit bought 96,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the completion of the acquisition, the director directly owned 2,994,509 shares of the company’s stock, valued at $780,309,155.22. This trade represents a 3.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the sale, the insider directly owned 139,767 shares in the company, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 155,034 shares of company stock worth $36,726,584 in the last 90 days. 3.00% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $260.54 on Friday. The firm’s fifty day moving average is $250.33 and its two-hundred day moving average is $251.70. Salesforce Inc. has a 52-week low of $221.96 and a 52-week high of $367.09. The company has a market cap of $244.13 billion, a P/E ratio of 34.79, a P/E/G ratio of 1.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The company had revenue of $10.26 billion for the quarter, compared to analyst estimates of $10.27 billion. During the same quarter in the prior year, the firm posted $2.41 EPS. Salesforce’s quarterly revenue was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 22.16%.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.