Burney Co. Trims Position in Salesforce Inc. $CRM

Burney Co. trimmed its position in Salesforce Inc. (NYSE:CRM) by 37.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,649 shares of the CRM provider’s stock after selling 2,193 shares during the period. Burney Co.’s holdings in Salesforce were worth $865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after purchasing an additional 205 shares in the last quarter. Bison Wealth LLC increased its stake in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after purchasing an additional 184 shares in the last quarter. Gabelli Funds LLC raised its holdings in Salesforce by 4.0% in the 1st quarter. Gabelli Funds LLC now owns 2,085 shares of the CRM provider’s stock worth $560,000 after purchasing an additional 80 shares during the period. Finally, Titleist Asset Management LLC purchased a new position in Salesforce during the first quarter valued at $226,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.3%

Salesforce stock opened at $266.09 on Monday. 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 price is $249.16 and its 200-day moving average price is $251.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $249.33 billion, a P/E ratio of 35.53, a PEG ratio of 1.98 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. The firm had revenue of $10.26 billion during 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%. Salesforce’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. On average, equities analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced 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. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, December 18th. Salesforce’s payout ratio is currently 22.16%.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $256.13, for a total value of $576,292.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $3,050,910,680.23. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 139,767 shares in the company, valued at $32,803,314.90. This trade represents a 49.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 164,034 shares of company stock valued at $38,889,037. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Citigroup downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. KeyCorp reduced their target price on shares of Salesforce from $440.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, September 4th. BTIG Research assumed coverage on shares of Salesforce in a report on Tuesday, December 16th. They set a “buy” rating and a $335.00 price target on the stock. Northland Capmk lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 14th. Finally, Robert W. Baird reduced their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $326.68.

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.