Gemmer Asset Management LLC Lowers Position in Salesforce Inc. $CRM

Gemmer Asset Management LLC decreased its holdings in shares of Salesforce Inc. (NYSE:CRM) by 67.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,435 shares of the CRM provider’s stock after selling 2,948 shares during the quarter. Gemmer Asset Management LLC’s holdings in Salesforce were worth $340,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC raised its position in Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after purchasing an additional 184 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Salesforce by 79.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,421 shares of the CRM provider’s stock worth $650,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Salesforce by 4.0% during the first quarter. Gabelli Funds LLC now owns 2,085 shares of the CRM provider’s stock worth $560,000 after purchasing an additional 80 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.7%

Shares of NYSE CRM opened at $265.29 on Thursday. The firm’s fifty day moving average is $248.30 and its 200 day moving average is $251.67. Salesforce Inc. has a 52 week low of $221.96 and a 52 week high of $367.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14. The company has a market cap of $248.57 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.96 and a beta of 1.25.

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 analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The business had revenue of $10.26 billion for the quarter, compared to analyst estimates of $10.27 billion. During the same quarter last year, the firm earned $2.41 EPS. The company’s revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. Salesforce’s dividend payout ratio is presently 22.16%.

Insiders Place Their Bets

In other Salesforce news, Director David Blair Kirk bought 1,936 shares of Salesforce stock in a transaction dated Wednesday, December 17th. The shares were purchased at an average cost of $258.64 per share, with a total value of $500,727.04. Following the completion of the purchase, the director owned 10,677 shares of the company’s stock, valued at approximately $2,761,499.28. This represents a 22.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Mason Morfit bought 96,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the acquisition, the director owned 2,994,509 shares of the company’s stock, valued at $780,309,155.22. This represents a 3.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 168,534 shares of company stock worth $39,985,777. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRM. Evercore ISI reduced their price objective on Salesforce from $360.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Citigroup cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Morgan Stanley decreased their price target on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Truist Financial cut their price objective on shares of Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, December 4th. Finally, Stifel Nicolaus decreased their target price on shares of Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.68.

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.