GRIMES & Co WEALTH MANAGEMENT LLC Cuts Stock Position in Salesforce Inc. $CRM

GRIMES & Co WEALTH MANAGEMENT LLC cut its holdings in shares of Salesforce Inc. (NYSE:CRM) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,920 shares of the CRM provider’s stock after selling 6,088 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Salesforce were worth $13,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares during the last quarter. Bison Wealth LLC grew its holdings in Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after purchasing an additional 184 shares during the period. TruWealth Advisors LLC purchased a new stake in Salesforce in the second quarter worth $208,000. Finally, Salem Investment Counselors Inc. raised its stake in shares of Salesforce by 6.7% in the second quarter. Salem Investment Counselors Inc. now owns 4,328 shares of the CRM provider’s stock valued at $1,181,000 after buying an additional 271 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In related news, Director David Blair Kirk bought 1,936 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was bought 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 approximately $2,761,499.28. The trade was a 22.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Mason Morfit purchased 96,000 shares of the stock in a transaction on Friday, December 5th. The shares were purchased at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the transaction, the director directly owned 2,994,509 shares of the company’s stock, valued at approximately $780,309,155.22. This represents a 3.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 152,784 shares of company stock valued at $36,173,287. 3.00% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $259.29 on Tuesday. The stock’s 50-day simple moving average is $250.28 and its two-hundred day simple moving average is $251.35. Salesforce Inc. has a twelve month low of $221.96 and a twelve month high of $367.09. The firm has a market capitalization of $242.95 billion, a P/E ratio of 34.62, a P/E/G 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:CRM) last issued its quarterly earnings data on Wednesday, December 3rd. The CRM provider reported $3.25 EPS for the quarter, topping the consensus estimate of $2.86 by $0.39. The company had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.27 billion. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.Salesforce’s revenue was up 9.1% on a year-over-year basis. During the same quarter 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 analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

CRM has been the subject of several research reports. Royal Bank Of Canada increased their price target on Salesforce from $250.00 to $290.00 and gave the stock a “sector perform” rating in a research note on Monday, January 5th. Morgan Stanley cut their target price on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating for the company in a research report on Tuesday, December 9th. UBS Group reiterated a “neutral” rating and issued a $260.00 target price on shares of Salesforce in a research note on Thursday, December 4th. DA Davidson upped their price target on shares of Salesforce from $225.00 to $235.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, 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 price objective for the company. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.50.

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.