Salesforce Inc. $CRM Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC cut its stake in shares of Salesforce Inc. (NYSE:CRM) by 49.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,619 shares of the CRM provider’s stock after selling 2,579 shares during the quarter. Townsquare Capital LLC’s holdings in Salesforce were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Beverly Hills Private Wealth LLC boosted its position in shares of Salesforce by 2.3% during the second quarter. Beverly Hills Private Wealth LLC now owns 1,716 shares of the CRM provider’s stock worth $468,000 after buying an additional 39 shares during the period. Aspire Growth Partners LLC grew its stake in shares of Salesforce by 1.2% in the third quarter. Aspire Growth Partners LLC now owns 3,355 shares of the CRM provider’s stock worth $795,000 after purchasing an additional 39 shares in the last quarter. Lifeworks Advisors LLC increased its holdings in shares of Salesforce by 2.9% during the second quarter. Lifeworks Advisors LLC now owns 1,420 shares of the CRM provider’s stock valued at $387,000 after purchasing an additional 40 shares during the period. Benchmark Financial Wealth Advisors LLC increased its holdings in shares of Salesforce by 4.4% during the second quarter. Benchmark Financial Wealth Advisors LLC now owns 989 shares of the CRM provider’s stock valued at $270,000 after purchasing an additional 42 shares during the period. Finally, Abacus Planning Group Inc. raised its stake in shares of Salesforce by 3.1% during the third quarter. Abacus Planning Group Inc. now owns 1,420 shares of the CRM provider’s stock valued at $337,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Morgan Stanley lowered their target price 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. The Goldman Sachs Group assumed coverage on Salesforce in a research report on Monday, January 12th. They set a “buy” rating and a $330.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $430.00 price objective on shares of Salesforce in a research note on Friday, October 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, December 4th. Finally, BTIG Research assumed coverage on shares of Salesforce in a research report on Tuesday, December 16th. They issued a “buy” rating and a $335.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $324.51.

Salesforce Price Performance

Shares of NYSE:CRM opened at $212.10 on Friday. The company has a market cap of $198.74 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.26. 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’s fifty day moving average is $246.78 and its two-hundred day moving average is $247.52. Salesforce Inc. has a 12-month low of $208.78 and a 12-month high of $349.50.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.39. The company had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th were paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Thursday, December 18th. Salesforce’s dividend payout ratio is 22.16%.

Insider Buying and Selling at Salesforce

In related news, Director G Mason Morfit bought 96,000 shares of Salesforce stock in a transaction that occurred 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 acquisition, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 122 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $259.00, for a total transaction of $31,598.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $3,085,096,889. This represents a 0.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 138,677 shares of company stock worth $32,566,029 in the last 90 days. Company insiders own 3.00% of the company’s stock.

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.