Simon Quick Advisors LLC Sells 5,000 Shares of Salesforce Inc. $CRM

Simon Quick Advisors LLC lessened its position in Salesforce Inc. (NYSE:CRM) by 82.0% in the third quarter, HoldingsChannel.com reports. The fund owned 1,100 shares of the CRM provider’s stock after selling 5,000 shares during the period. Simon Quick Advisors LLC’s holdings in Salesforce were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its stake 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 period. Revolve Wealth Partners LLC boosted its position in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after purchasing an additional 205 shares during the period. Bison Wealth LLC boosted 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 worth $747,000 after purchasing an additional 184 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Salesforce by 8.4% in the first quarter. Integrated Wealth Concepts LLC now owns 22,935 shares of the CRM provider’s stock valued at $6,155,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC raised its position in shares of Salesforce by 12.8% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 6,622 shares of the CRM provider’s stock valued at $1,777,000 after purchasing an additional 753 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, Director G Mason Morfit bought 96,000 shares of the business’s stock in a transaction on Friday, December 5th. The stock was purchased at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the completion of the purchase, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Friday, October 31st. The shares were sold at an average price of $258.20, for a total value of $580,950.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,075,567,632.20. The trade was a 0.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 159,534 shares of company stock worth $37,814,212. 3.00% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 4.2%

Shares of NYSE:CRM opened at $253.68 on Monday. The business’s 50 day simple moving average is $249.78 and its 200 day simple moving average is $251.55. Salesforce Inc. has a 1 year low of $221.96 and a 1 year high of $367.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $237.70 billion, a P/E ratio of 33.87, a P/E/G ratio of 1.89 and a beta of 1.26.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The firm had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the prior year, the company posted $2.41 EPS. The company’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. On average, research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 22.16%.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $430.00 target price on shares of Salesforce in a report on Friday, October 17th. Macquarie boosted their price objective on Salesforce from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Morgan Stanley lowered their target price on Salesforce from $405.00 to $398.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Mizuho set a $340.00 price target on Salesforce in a report on Wednesday, December 10th. Finally, Northland Capmk lowered Salesforce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $326.68.

Salesforce Company 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.