Praxis Investment Management Inc. Sells 7,170 Shares of Salesforce Inc. $CRM

Praxis Investment Management Inc. cut its stake in shares of Salesforce Inc. (NYSE:CRM) by 27.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,070 shares of the CRM provider’s stock after selling 7,170 shares during the quarter. Praxis Investment Management Inc.’s holdings in Salesforce were worth $5,200,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRM. Diversified Trust Co increased its stake in Salesforce by 30.1% in the 2nd quarter. Diversified Trust Co now owns 27,786 shares of the CRM provider’s stock worth $7,577,000 after buying an additional 6,430 shares in the last quarter. Neville Rodie & Shaw Inc. increased its stake in Salesforce by 4.6% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 59,970 shares of the CRM provider’s stock worth $16,353,000 after buying an additional 2,644 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Salesforce in the 1st quarter worth $9,367,000. Jones Financial Companies Lllp grew its position in shares of Salesforce by 31.2% during the first quarter. Jones Financial Companies Lllp now owns 344,887 shares of the CRM provider’s stock worth $93,016,000 after purchasing an additional 81,916 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its position in shares of Salesforce by 6.8% during the second quarter. Wesbanco Bank Inc. now owns 110,968 shares of the CRM provider’s stock worth $30,260,000 after purchasing an additional 7,091 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, Director David Blair Kirk purchased 3,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the purchase, the director owned 3,824 shares in the company, valued at approximately $973,819.84. This trade represents a 801.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $234.64, for a total value of $527,940.00. Following the transaction, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $2,794,931,019.44. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,750 shares of company stock valued at $19,521,495 over the last ninety days. 3.00% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $245.09 on Friday. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The stock has a market capitalization of $233.33 billion, a P/E ratio of 35.62, a PEG ratio of 2.04 and a beta of 1.19. The firm has a fifty day simple moving average of $244.31 and a two-hundred day simple moving average of $258.05. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14.

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. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, analysts expect 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, October 9th. Shareholders of record on Wednesday, September 17th were paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 17th. Salesforce’s payout ratio is presently 24.13%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRM shares. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of Salesforce from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Canaccord Genuity Group cut their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Piper Sandler reaffirmed an “overweight” rating and set a $315.00 target price on shares of Salesforce in a research note on Thursday. Finally, BMO Capital Markets cut their target price on shares of Salesforce from $335.00 to $280.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $325.23.

Salesforce Company 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.