NewEdge Advisors LLC Has $26.41 Million Holdings in Salesforce Inc. $CRM

NewEdge Advisors LLC boosted its position in shares of Salesforce Inc. (NYSE:CRM) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 96,843 shares of the CRM provider’s stock after buying an additional 2,817 shares during the quarter. NewEdge Advisors LLC’s holdings in Salesforce were worth $26,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stamos Capital Partners L.P. increased its position in Salesforce by 91.5% during the second quarter. Stamos Capital Partners L.P. now owns 14,198 shares of the CRM provider’s stock worth $3,872,000 after buying an additional 6,784 shares during the last quarter. Tripletail Wealth Management LLC acquired a new stake in Salesforce during the 2nd quarter valued at $274,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new position in shares of Salesforce in the second quarter valued at $4,264,000. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Salesforce by 5.2% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 46,129 shares of the CRM provider’s stock valued at $12,579,000 after purchasing an additional 2,294 shares during the last quarter. Finally, State Street Corp raised its position in shares of Salesforce by 1.6% in the second quarter. State Street Corp now owns 49,260,918 shares of the CRM provider’s stock valued at $13,452,998,000 after purchasing an additional 776,300 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. JMP Securities reaffirmed a “market outperform” rating and set a $430.00 target price on shares of Salesforce in a report on Friday, October 17th. Bank of America reduced their price objective on Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a report on Monday, November 17th. Robert W. Baird decreased their target price on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Mizuho set a $340.00 price target on Salesforce in a report on Wednesday. Finally, Wall Street Zen upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Twenty-eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.46.

Salesforce Stock Up 1.2%

CRM stock opened at $264.02 on Thursday. Salesforce Inc. has a 52 week low of $221.96 and a 52 week high of $367.09. The business has a 50-day simple moving average of $244.59 and a 200 day simple moving average of $252.26. 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 has a market cap of $247.39 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 1.95 and a beta of 1.25.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, beating the consensus estimate of $2.86 by $0.39. The firm 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%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 134,662 shares of the company’s 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 completion of the sale, the insider directly owned 139,767 shares in the company, valued at $32,803,314.90. This represents a 49.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Mason Morfit purchased 96,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was acquired at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the purchase, the director owned 2,994,509 shares in the company, valued at approximately $780,309,155.22. The trade was a 3.31% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 179,784 shares of company stock worth $42,742,994 over the last three months. Corporate insiders own 3.00% of the company’s stock.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.