Miracle Mile Advisors LLC Lowers Stock Position in Salesforce Inc. $CRM

Miracle Mile Advisors LLC trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM) by 46.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,987 shares of the CRM provider’s stock after selling 10,560 shares during the period. Miracle Mile Advisors LLC’s holdings in Salesforce were worth $2,841,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Painted Porch Advisors LLC boosted its position in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after purchasing an additional 65 shares in the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Salesforce in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares in the last quarter. Christopher J. Hasenberg Inc boosted its holdings in Salesforce by 383.3% during the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock worth $32,000 after buying an additional 92 shares in the last quarter. Finally, Maseco LLP acquired a new position in Salesforce during the second quarter worth about $34,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $252.04, for a total value of $567,090.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $3,002,192,354.84. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 134,662 shares of Salesforce 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 sale, the insider owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This trade represents a 49.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 161,784 shares of company stock valued at $38,357,182 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRM. Stifel Nicolaus decreased their price target on Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Cowen reiterated a “buy” rating on shares of Salesforce in a research report on Thursday, December 4th. JMP Securities restated a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a research report on Friday, October 17th. Wall Street Zen raised Salesforce from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Finally, Wedbush reissued an “outperform” rating and issued a $375.00 price objective on shares of Salesforce in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.68.

Salesforce Trading Down 4.2%

Salesforce stock opened at $253.68 on Friday. The stock has a 50-day moving average price of $249.78 and a 200 day moving average price of $251.67. Salesforce Inc. has a 52 week low of $221.96 and a 52 week high of $367.09. The stock has a market cap of $237.70 billion, a PE ratio of 33.87, a P/E/G ratio of 1.97 and a beta of 1.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th will be issued a $0.416 dividend. The ex-dividend date is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce’s payout ratio is 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.