Salesforce Inc. $CRM Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM) by 92.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,239 shares of the CRM provider’s stock after selling 93,966 shares during the quarter. Riverbridge Partners LLC’s holdings in Salesforce were worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Latitude Advisors LLC purchased a new stake in Salesforce in the third quarter valued at about $25,000. ABS Investment Management LLC purchased a new stake in shares of Salesforce during the second quarter worth about $610,974,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Salesforce during the second quarter worth about $25,000. Manning & Napier Advisors LLC purchased a new stake in shares of Salesforce during the second quarter worth about $26,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Salesforce during the second quarter valued at about $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Guggenheim increased their price objective on shares of Salesforce from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Morgan Stanley set a $315.00 target price on shares of Salesforce in a research note on Wednesday, September 2nd. Truist Financial reissued a “buy” rating and set a $300.00 target price (up from $280.00) on shares of Salesforce in a research report on Thursday, August 27th. Stephens restated an “equal weight” rating and set a $289.00 price target on shares of Salesforce in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Salesforce from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.98.

Insider Activity

In other news, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the sale, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Blair Kirk acquired 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The stock was acquired at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the acquisition, the director owned 18,748 shares of the company’s stock, valued at $4,486,958.84. This trade represents a 28.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Trending Headlines about Salesforce

Investors following CRM have been watching these headlines:

• Positive Sentiment: Missionforce National Security received “Awardable” status in a federal solutions marketplace, giving Department of War organizations access to Salesforce’s recruiting capabilities. This could support government-sector opportunities, though the immediate financial impact is unclear. Missionforce National Security Achieves Awardable Status
• Neutral Sentiment: Salesforce scheduled its fiscal 2027 third-quarter earnings release and webcast. The announcement sets a date for investors to assess results and guidance but does not itself indicate a change in performance. Salesforce Announces Date of Third Quarter Fiscal 2027 Earnings Release and Webcast
• Negative Sentiment: S&P cut Salesforce’s credit rating to A, citing concerns linked to deals and the company’s planned $25 billion buyback. The downgrade spotlights potential balance-sheet and capital-allocation risks. Salesforce Sinks as S&P Cuts Its Rating to A on Deals and a $25 Billion Buyback

Salesforce Stock Performance

Shares of NYSE CRM opened at $217.35 on Thursday. The stock has a market cap of $178.88 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.97 and a beta of 1.24. The company has a 50 day simple moving average of $236.99 and a two-hundred day simple moving average of $198.48. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping the consensus estimate of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same period last year, the firm earned $2.91 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, analysts predict that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Salesforce’s dividend payout ratio is 16.04%.

Salesforce Company Profile

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.