New York Life Investment Management LLC Has $33 Million Holdings in Salesforce Inc. $CRM

New York Life Investment Management LLC trimmed its position in shares of Salesforce Inc. (NYSE:CRM) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,222 shares of the CRM provider’s stock after selling 4,594 shares during the period. New York Life Investment Management LLC’s holdings in Salesforce were worth $32,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC lifted its holdings in Salesforce by 2.3% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 1,716 shares of the CRM provider’s stock valued at $468,000 after purchasing an additional 39 shares during the last quarter. Aspire Growth Partners LLC increased its holdings 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 valued at $795,000 after purchasing an additional 39 shares during the last quarter. Lifeworks Advisors LLC raised its position in shares of Salesforce by 2.9% in 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 lifted its stake in shares of Salesforce by 4.4% during the 2nd quarter. Benchmark Financial Wealth Advisors LLC now owns 989 shares of the CRM provider’s stock worth $270,000 after buying an additional 42 shares during the last quarter. Finally, Abacus Planning Group Inc. boosted its holdings in shares of Salesforce by 3.1% during the 3rd quarter. Abacus Planning Group Inc. now owns 1,420 shares of the CRM provider’s stock worth $337,000 after buying an additional 43 shares during the period. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRM has been the subject of a number of research analyst reports. Evercore reduced their price objective on Salesforce from $360.00 to $340.00 and set an “outperform” rating for the company in a report on Thursday, December 4th. Northland Securities upped their price objective on Salesforce from $264.00 to $267.00 and gave the company a “market perform” rating in a report on Thursday, December 4th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Salesforce in a research report on Thursday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, December 4th. Finally, BTIG Research initiated coverage on shares of Salesforce in a research report on Tuesday, December 16th. They set 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.57.

Insider Buying and Selling

In other Salesforce news, Director Neelie Kroes sold 3,893 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total transaction of $929,259.10. Following the completion of the transaction, the director owned 7,299 shares in the company, valued at approximately $1,742,271.30. This trade represents a 34.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Mason Morfit bought 96,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were purchased at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the purchase, the director directly owned 2,994,509 shares of the company’s stock, valued at $780,309,155.22. The trade was a 3.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.00% of the stock is owned by company insiders.

Salesforce Trading Up 0.8%

Shares of CRM opened at $191.48 on Monday. Salesforce Inc. has a 52-week low of $187.12 and a 52-week high of $333.82. The business’s fifty day moving average is $243.57 and its 200-day moving average is $245.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $179.42 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.31 and a beta of 1.27.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, beating the consensus estimate of $2.86 by $0.39. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The business had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.27 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The firm’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. Equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed 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. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, December 18th. Salesforce’s dividend payout ratio (DPR) is 22.16%.

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.