Thrivent Financial for Lutherans Has $26.09 Million Position in Salesforce Inc. $CRM

Thrivent Financial for Lutherans cut its position in shares of Salesforce Inc. (NYSE:CRM) by 37.3% during the third quarter, Holdings Channel reports. The institutional investor owned 110,083 shares of the CRM provider’s stock after selling 65,572 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Salesforce were worth $26,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after purchasing an additional 3,102 shares during the period. Revolve Wealth Partners LLC boosted its stake 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 buying an additional 205 shares in the last quarter. Bison Wealth LLC increased its holdings in Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after buying an additional 184 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Salesforce by 3.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after buying an additional 106 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Salesforce by 30.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 11,036 shares of the CRM provider’s stock worth $3,009,000 after acquiring an additional 2,602 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CRM shares. Northland Securities increased their price target on shares of Salesforce from $264.00 to $267.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. Citizens Jmp reissued a “market outperform” rating and issued a $430.00 target price on shares of Salesforce in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Salesforce in a research note on Monday, December 29th. JMP Securities reiterated a “market outperform” rating and set a $430.00 price objective on shares of Salesforce in a research note on Friday, October 17th. Finally, Stifel Nicolaus cut their price objective on Salesforce from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $324.51.

Salesforce Stock Down 0.7%

Shares of NYSE:CRM opened at $210.71 on Tuesday. Salesforce Inc. has a 12 month low of $208.78 and a 12 month high of $348.04. The company’s 50-day moving average price is $246.46 and its two-hundred day moving average price is $247.03. 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 firm has a market cap of $197.44 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.58 and a beta of 1.26.

Salesforce (NYSE:CRM) last announced its 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. The company had revenue of $10.26 billion for 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%. Salesforce’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In other news, Director G Mason Morfit acquired 96,000 shares of the 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 completion of the transaction, the director directly 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 134,662 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total value of $31,605,171.40. Following the sale, the insider directly owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This represents a 49.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.00% of the stock is 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.