12,797 Shares in Salesforce Inc. $CRM Bought by First Horizon Corp

First Horizon Corp bought a new stake in shares of Salesforce Inc. (NYSE:CRM) in the third quarter, Holdings Channel reports. The fund bought 12,797 shares of the CRM provider’s stock, valued at approximately $3,033,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. raised its stake in shares of Salesforce by 13.2% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,850 shares of the CRM provider’s stock valued at $438,000 after buying an additional 216 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Salesforce by 9.6% during the third quarter. Meeder Asset Management Inc. now owns 2,205 shares of the CRM provider’s stock worth $523,000 after acquiring an additional 193 shares during the period. Marquette Asset Management LLC purchased a new position in Salesforce during the third quarter valued at approximately $26,000. Tema Etfs LLC purchased a new position in Salesforce during the third quarter valued at approximately $4,198,000. Finally, Bayforest Capital Ltd acquired a new position in Salesforce in the third quarter valued at approximately $161,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 0.3%

CRM opened at $259.29 on Tuesday. The company has a market cap of $242.95 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. Salesforce Inc. has a twelve month low of $221.96 and a twelve month high of $367.09. The company has a 50-day moving average price of $250.28 and a 200 day moving average price of $251.35. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the previous year, the firm posted $2.41 EPS. Salesforce’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. Sell-side analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $258.20, for a total value of $580,950.00. Following the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,075,567,632.20. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the sale, the insider directly owned 139,767 shares in the company, valued at approximately $32,803,314.90. This trade represents a 49.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 152,784 shares of company stock valued at $36,173,287. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, December 4th. Evercore ISI lowered their price target on shares of Salesforce from $360.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research note on Thursday, December 4th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a research note on Tuesday, December 2nd. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $326.50.

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.