Econ Financial Services Corp Has $1.82 Million Stock Holdings in Salesforce Inc. $CRM

Econ Financial Services Corp boosted its stake in shares of Salesforce Inc. (NYSE:CRM) by 46.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,670 shares of the CRM provider’s stock after buying an additional 2,431 shares during the period. Econ Financial Services Corp’s holdings in Salesforce were worth $1,818,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Salesforce by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 88,823,481 shares of the CRM provider’s stock valued at $24,221,275,000 after acquiring an additional 909,853 shares in the last quarter. State Street Corp increased its holdings in Salesforce by 1.6% during the 2nd quarter. State Street Corp now owns 49,260,918 shares of the CRM provider’s stock worth $13,452,998,000 after purchasing an additional 776,300 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Salesforce by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock valued at $5,669,224,000 after purchasing an additional 114,504 shares during the period. Norges Bank bought a new stake in shares of Salesforce in the second quarter valued at about $2,826,049,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Salesforce by 6.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider’s stock worth $2,484,616,000 after buying an additional 600,386 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Sanford C. Bernstein reissued an “underperform” rating on shares of Salesforce in a research report on Thursday, December 4th. Northland Securities lifted their price objective on shares of Salesforce from $264.00 to $267.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. Robert W. Baird cut their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Salesforce in a research report on Thursday, December 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price target on shares of Salesforce in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, thirteen have given a Hold rating and one has assigned 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 $326.68.

Salesforce Stock Down 0.4%

Shares of CRM stock opened at $264.78 on Friday. Salesforce Inc. has a 52-week low of $221.96 and a 52-week high of $367.09. The stock has a market cap of $248.10 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 1.97 and a beta of 1.26. The firm’s 50-day moving average is $249.80 and its 200-day moving average is $251.74. 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 for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. The firm had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Sell-side analysts predict that Salesforce Inc. will post 7.46 EPS 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 issued a dividend of $0.416 per share. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.6%. Salesforce’s dividend payout ratio (DPR) is currently 22.16%.

Insiders Place Their Bets

In related news, Director G Mason Morfit acquired 96,000 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were purchased at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the completion of the acquisition, the director directly owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $252.04, for a total transaction of $567,090.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at approximately $3,002,192,354.84. This represents a 0.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 161,784 shares of company stock valued at $38,357,182 over the last ninety days. 3.00% of the stock is currently owned by company insiders.

About Salesforce

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.