Canoe Financial LP Buys 34,420 Shares of Salesforce Inc. $CRM

Canoe Financial LP raised its stake in Salesforce Inc. (NYSE:CRM) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244,683 shares of the CRM provider’s stock after buying an additional 34,420 shares during the period. Canoe Financial LP’s holdings in Salesforce were worth $57,990,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. Pacer Advisors Inc. grew its position in Salesforce by 1.9% in the third quarter. Pacer Advisors Inc. now owns 1,639,299 shares of the CRM provider’s stock worth $388,514,000 after acquiring an additional 30,016 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its stake in Salesforce by 43.0% during the third quarter. Blue Zone Wealth Advisors LLC now owns 38,135 shares of the CRM provider’s stock worth $9,038,000 after purchasing an additional 11,467 shares during the last quarter. Independent Wealth Network Inc. purchased a new position in shares of Salesforce in the 3rd quarter worth about $594,000. RFG Holdings Inc. increased its position in shares of Salesforce by 32.7% during the 3rd quarter. RFG Holdings Inc. now owns 5,573 shares of the CRM provider’s stock valued at $1,321,000 after purchasing an additional 1,374 shares during the last quarter. Finally, Milestone Asset Management LLC raised its holdings in shares of Salesforce by 281.7% during the 3rd quarter. Milestone Asset Management LLC now owns 9,908 shares of the CRM provider’s stock valued at $2,348,000 after buying an additional 7,312 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. Guggenheim reaffirmed a “neutral” rating on shares of Salesforce in a research note on Thursday, December 4th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research note on Thursday, December 4th. Oppenheimer dropped their target price on shares of Salesforce from $315.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, December 1st. Evercore ISI dropped their price target on Salesforce from $360.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Finally, Roth Capital reissued a “buy” rating and set a $395.00 price objective on shares of Salesforce in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.68.

Salesforce Stock Performance

Shares of Salesforce stock opened at $265.29 on Friday. Salesforce Inc. has a 1 year low of $221.96 and a 1 year high of $367.09. The firm’s 50-day moving average is $248.70 and its 200 day moving average is $251.77. The stock has a market cap of $248.57 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.98 and a beta of 1.25. 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 issued its 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 business had revenue of $10.26 billion during 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 business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.41 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $1.66 annualized dividend and a yield of 0.6%. Salesforce’s dividend payout ratio is 22.16%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 134,662 shares of Salesforce stock in a transaction on Tuesday, December 2nd. The stock was 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 approximately $32,803,314.90. This trade represents a 49.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Mason Morfit acquired 96,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 166,284 shares of company stock valued at $39,439,229. 3.00% of the stock is currently owned by company insiders.

Salesforce Company 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.