Salesforce Inc. $CRM Shares Sold by Fjell Capital LLC

Fjell Capital LLC trimmed its holdings in Salesforce Inc. (NYSE:CRMFree Report) by 44.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,846 shares of the CRM provider’s stock after selling 2,241 shares during the period. Fjell Capital LLC’s holdings in Salesforce were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Salesforce in the second quarter valued at approximately $2,826,049,000. Laurel Wealth Advisors LLC grew its holdings in Salesforce by 27,361.5% during the 2nd 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 increased its position in Salesforce by 1,729.6% during the second 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 raised its holdings in shares of Salesforce by 26.2% in the second quarter. Amundi now owns 7,755,317 shares of the CRM provider’s stock worth $2,087,545,000 after acquiring an additional 1,612,413 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Salesforce by 45.8% in the second quarter. Schroder Investment Management Group now owns 3,931,945 shares of the CRM provider’s stock valued at $1,072,202,000 after acquiring an additional 1,234,969 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

Analysts Set New Price Targets

Several research analysts recently weighed in on CRM shares. BTIG Research started coverage on shares of Salesforce in a research note on Tuesday, December 16th. They issued a “buy” rating and a $335.00 target price for the company. Barclays boosted their price objective on shares of Salesforce from $316.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Arete Research upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, December 11th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Salesforce in a research note on Thursday, December 4th. Finally, Morgan Stanley reduced their price target on Salesforce from $405.00 to $398.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $327.74.

Check Out Our Latest Stock Analysis on CRM

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit bought 96,000 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the transaction, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. This trade represents a 3.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Blair Kirk purchased 1,936 shares of Salesforce stock in a transaction on Wednesday, December 17th. The shares were acquired at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the completion of the transaction, the director owned 10,677 shares of the company’s stock, valued at $2,761,499.28. This represents a 22.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 155,034 shares of company stock worth $36,726,584 over the last 90 days. Company insiders own 3.00% of the company’s stock.

Salesforce Stock Down 0.2%

Shares of CRM opened at $260.03 on Friday. Salesforce Inc. has a fifty-two week low of $221.96 and a fifty-two week high of $367.09. The company’s fifty day moving average is $250.32 and its two-hundred day moving average is $251.68. The firm has a market cap of $243.65 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The business had revenue of $10.26 billion for the quarter, compared to analyst estimates of $10.27 billion. During the same period last year, the company posted $2.41 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Thursday, December 18th were paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, December 18th. Salesforce’s payout ratio is currently 22.16%.

Salesforce Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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