Profund Advisors LLC decreased its position in Salesforce Inc. (NYSE:CRM – Free Report) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,509 shares of the CRM provider’s stock after selling 5,721 shares during the quarter. Profund Advisors LLC’s holdings in Salesforce were worth $6,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Salesforce during the second quarter worth about $11,396,844,000. Arrowstreet Capital Limited Partnership increased its position in shares of Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after acquiring an additional 7,160,302 shares during the period. Bank of America Corp DE lifted its stake in Salesforce by 28.0% in the first quarter. Bank of America Corp DE now owns 11,724,790 shares of the CRM provider’s stock worth $2,188,666,000 after acquiring an additional 2,561,923 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Salesforce in the 2nd quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp acquired a new stake in Salesforce during the 2nd quarter worth $844,928,000. 80.43% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CRM. BTIG Research reaffirmed a “buy” rating and set a $300.00 price objective on shares of Salesforce in a report on Wednesday, September 2nd. Citigroup reissued a “market outperform” rating on shares of Salesforce in a research report on Tuesday, October 20th. Barclays downgraded Salesforce from an “overweight” rating to a “positive” rating in a report on Monday, October 12th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Thursday, September 17th. Finally, Wall Street Zen downgraded Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $278.98.
View Our Latest Stock Analysis on Salesforce
Insiders Place Their Bets
In related news, Director David Blair Kirk purchased 4,176 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average price of $239.33 per share, with a total value of $999,442.08. Following the acquisition, the director owned 18,748 shares of the company’s stock, valued at $4,486,958.84. This trade represents a 28.66% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Conway sold 4,500 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares in the company, valued at $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.50% of the company’s stock.
Salesforce Stock Down 1.0%
Shares of NYSE:CRM opened at $228.56 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The firm has a market cap of $188.10 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.04 and a beta of 1.26. The company’s 50-day moving average price is $238.94 and its two-hundred day moving average price is $198.88. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same period last year, the company earned $2.91 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, research analysts forecast that Salesforce Inc. will post 12.82 EPS for the current fiscal year.
Salesforce Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce’s payout ratio is 16.04%.
Key Headlines Impacting Salesforce
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: Salesforce signed a definitive agreement to acquire Rune Technologies, a defense-technology company. The deal supports Salesforce’s push into military and government applications, potentially expanding its addressable market and adding a specialized technology platform. Financial terms were not disclosed. Salesforce Signs Definitive Agreement to Acquire Rune Technologies
- Positive Sentiment: TPM Holdings completed an 18-month realignment centered on Salesforce CRM and artificial intelligence for the architecture, engineering and construction industries. Its combination of TrebleHook and The Hunley Group could expand Salesforce-based implementations and demonstrate growing demand for industry-specific AI tools. TPM Holdings Accelerates Investment in AI and Salesforce CRM
- Positive Sentiment: Several analyst and investment articles describe Salesforce as a potential AI rebound candidate, citing autonomous AI agents, improving monetization, strong free cash flow and its leadership in customer relationship management. These views may support longer-term sentiment, although they are not new company guidance. AI Comeback Story Article
- Neutral Sentiment: Salesforce’s earnings report is approaching, making upcoming revenue growth, AI adoption, margins and forward guidance the main near-term catalysts. The company’s latest reported quarter included revenue of $11.35 billion and adjusted earnings that exceeded consensus estimates. Salesforce Earnings Preview
- Negative Sentiment: Salesforce declined in sympathy with ServiceNow, Fortinet and other software stocks after investors focused on slower contracted-revenue growth despite earnings beats and higher AI targets. The reaction has renewed concerns about enterprise-software demand, AI monetization timelines and elevated sector valuations. ServiceNow Results Dent Software Stocks
Salesforce Company Profile
Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.
The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.
Read More
- Five stocks we like better than Salesforce
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.
