Renaissance Group LLC Has $28.30 Million Stock Position in Salesforce Inc. $CRM

Renaissance Group LLC boosted its position in shares of Salesforce Inc. (NYSE:CRM) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,402 shares of the CRM provider’s stock after purchasing an additional 4,032 shares during the quarter. Renaissance Group LLC’s holdings in Salesforce were worth $28,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CRM. Evolution Wealth Management Inc. bought a new position in shares of Salesforce in the 2nd quarter worth $27,000. Marquette Asset Management LLC acquired a new position in Salesforce in the third quarter valued at about $26,000. Spurstone Advisory Services LLC bought a new position in Salesforce during the second quarter worth about $34,000. Quaker Wealth Management LLC grew its position in shares of Salesforce by 208.6% during the 2nd quarter. Quaker Wealth Management LLC now owns 126 shares of the CRM provider’s stock worth $34,000 after buying an additional 242 shares during the period. Finally, Country Trust Bank increased its stake in shares of Salesforce by 658.8% in the 2nd quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock valued at $35,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director David Blair Kirk acquired 1,936 shares of Salesforce stock in a transaction dated Wednesday, December 17th. The stock was bought at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the purchase, the director directly owned 10,677 shares in the company, valued at approximately $2,761,499.28. This represents a 22.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 134,662 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the completion of the transaction, the insider owned 139,767 shares of the company’s stock, valued at $32,803,314.90. The trade was a 49.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CRM shares. Wedbush reissued an “outperform” rating and set a $375.00 price objective on shares of Salesforce in a research note on Thursday, December 4th. Robert W. Baird cut their target price on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, December 4th. Barclays boosted their price target on shares of Salesforce from $330.00 to $338.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Guggenheim restated a “neutral” rating on shares of Salesforce in a research report on Thursday, December 4th. Finally, The Goldman Sachs Group initiated coverage on Salesforce in a report on Monday, January 12th. They set a “buy” rating and a $330.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $323.57.

Salesforce Stock Performance

CRM opened at $191.48 on Friday. The business’s 50-day moving average price is $243.57 and its two-hundred day moving average price is $245.35. Salesforce Inc. has a 1 year low of $187.12 and a 1 year high of $333.82. The company has a market capitalization of $179.42 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 1.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share 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 during the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the prior year, the firm earned $2.41 earnings per share. Salesforce’s revenue for the quarter was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, December 18th. Salesforce’s payout ratio is currently 22.16%.

Salesforce 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.