Econ Financial Services Corp Has $1.82 Million Stake in Salesforce Inc. $CRM

Econ Financial Services Corp grew its position in Salesforce Inc. (NYSE:CRM) by 46.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,670 shares of the CRM provider’s stock after acquiring an additional 2,431 shares during the period. Econ Financial Services Corp’s holdings in Salesforce were worth $1,818,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in Salesforce in the second quarter worth $2,826,049,000. Laurel Wealth Advisors LLC raised its holdings in shares of Salesforce by 27,361.5% in the second quarter. Laurel Wealth Advisors LLC now owns 3,424,169 shares of the CRM provider’s stock valued at $933,737,000 after buying an additional 3,411,700 shares during the last quarter. Acadian Asset Management LLC lifted its position in Salesforce by 1,729.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,973,141 shares of the CRM provider’s stock worth $538,020,000 after buying an additional 1,865,297 shares in the last quarter. Amundi lifted its position in Salesforce by 26.2% during the 2nd quarter. Amundi now owns 7,755,317 shares of the CRM provider’s stock worth $2,087,545,000 after buying an additional 1,612,413 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Salesforce by 45.8% during the 2nd quarter. Schroder Investment Management Group now owns 3,931,945 shares of the CRM provider’s stock worth $1,072,202,000 after acquiring an additional 1,234,969 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $252.04, for a total transaction of $567,090.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,002,192,354.84. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were 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 of the company’s stock, valued at $32,803,314.90. The trade was a 49.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,784 shares of company stock valued at $38,357,182 in the last 90 days. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of Salesforce from $280.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. Truist Financial dropped their price objective on shares of Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, December 4th. UBS Group reaffirmed a “neutral” rating and set a $260.00 price objective on shares of Salesforce in a report on Thursday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, December 4th. Finally, Wall Street Zen upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. One 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $326.68.

Salesforce Stock Performance

Shares of Salesforce stock opened at $264.78 on Friday. The firm has a fifty day moving average of $249.80 and a two-hundred day moving average of $251.74. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $248.10 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 1.97 and a beta of 1.26. Salesforce Inc. has a 52 week low of $221.96 and a 52 week high of $367.09.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.41% and a net margin of 17.91%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities research analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared 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 dividend payout ratio (DPR) is currently 22.16%.

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.