Wells Trecaso Financial Group LLC Sells 8,698 Shares of Salesforce Inc. $CRM

Wells Trecaso Financial Group LLC reduced its position in shares of Salesforce Inc. (NYSE:CRM) by 38.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,970 shares of the CRM provider’s stock after selling 8,698 shares during the period. Salesforce makes up approximately 1.6% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 20th biggest position. Wells Trecaso Financial Group LLC’s holdings in Salesforce were worth $3,311,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CRM. Norges Bank acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $2,826,049,000. Laurel Wealth Advisors LLC lifted its stake in Salesforce by 27,361.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,424,169 shares of the CRM provider’s stock valued at $933,737,000 after purchasing an additional 3,411,700 shares during the last quarter. Acadian Asset Management LLC boosted its position in Salesforce by 1,729.6% in the second quarter. Acadian Asset Management LLC now owns 1,973,141 shares of the CRM provider’s stock valued at $538,020,000 after buying an additional 1,865,297 shares in the last quarter. Amundi grew its stake in shares of Salesforce by 26.2% during the second quarter. Amundi now owns 7,755,317 shares of the CRM provider’s stock worth $2,087,545,000 after buying an additional 1,612,413 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Salesforce by 45.8% during the second quarter. Schroder Investment Management Group now owns 3,931,945 shares of the CRM provider’s stock worth $1,072,202,000 after buying an additional 1,234,969 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citizens Jmp reissued a “market outperform” rating and set a $430.00 price target on shares of Salesforce in a research note on Tuesday, December 2nd. Wolfe Research reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday, January 15th. Bank of America reduced their target price on shares of Salesforce from $325.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Wall Street Zen raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.57.

Insider Activity

In related news, Director Neelie Kroes sold 3,893 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total transaction of $929,259.10. Following the completion of the sale, the director directly owned 7,299 shares of the company’s stock, valued at approximately $1,742,271.30. This trade represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total value of $31,605,171.40. Following the sale, the insider owned 139,767 shares in the company, valued at $32,803,314.90. This trade represents a 49.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.00% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $192.93 on Friday. The firm has a market capitalization of $180.77 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.36 and a beta of 1.27. Salesforce Inc. has a 52 week low of $187.28 and a 52 week high of $333.82. The stock has a 50 day moving average price of $244.36 and a two-hundred day moving average price of $245.84. 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 announced its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same quarter in the prior year, the company posted $2.41 earnings per share. Salesforce’s 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. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, December 18th. Salesforce’s dividend payout ratio 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.