Salesforce Inc. $CRM Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Salesforce Inc. (NYSE:CRM) by 37.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,083 shares of the CRM provider’s stock after selling 65,572 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Salesforce were worth $26,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Pension Service lifted its holdings in shares of Salesforce by 2.4% in the third quarter. National Pension Service now owns 2,207,190 shares of the CRM provider’s stock valued at $523,104,000 after purchasing an additional 51,492 shares in the last quarter. Harvey Capital Management Inc. raised its position in Salesforce by 17.7% during the third quarter. Harvey Capital Management Inc. now owns 32,621 shares of the CRM provider’s stock valued at $7,731,000 after buying an additional 4,905 shares during the period. Avantax Advisory Services Inc. lifted its stake in Salesforce by 4.0% in the 2nd quarter. Avantax Advisory Services Inc. now owns 87,331 shares of the CRM provider’s stock worth $23,814,000 after acquiring an additional 3,387 shares in the last quarter. Grant Private Wealth Management Inc acquired a new stake in Salesforce during the 3rd quarter worth about $1,458,000. Finally, Advyzon Investment Management LLC grew its stake in Salesforce by 57.4% during the 2nd quarter. Advyzon Investment Management LLC now owns 1,884 shares of the CRM provider’s stock valued at $514,000 after acquiring an additional 687 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, Director G Mason Morfit purchased 96,000 shares of the stock in a transaction dated Friday, December 5th. The shares were bought at an average cost of $260.58 per share, with a total value of $25,015,680.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Blair Kirk acquired 1,936 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were acquired at an average cost of $258.64 per share, with a total value of $500,727.04. Following the transaction, the director directly owned 10,677 shares in the company, valued at $2,761,499.28. The trade was a 22.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, December 4th. Morgan Stanley decreased their target price on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Northland Securities upped their price target on shares of Salesforce from $264.00 to $267.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. TD Cowen reissued a “buy” rating on shares of Salesforce in a research report on Thursday, December 4th. Finally, Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.51.

Salesforce Stock Performance

Shares of NYSE CRM opened at $210.71 on Tuesday. The business’s 50-day simple moving average is $246.46 and its 200-day simple moving average is $247.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. Salesforce Inc. has a 52 week low of $208.78 and a 52 week high of $348.04. The firm has a market cap of $197.44 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.58 and a beta of 1.26.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.39. Salesforce had a return on equity of 14.41% and a net margin of 17.91%.The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same quarter in the prior year, the business earned $2.41 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, equities research analysts expect 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 was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, December 18th. Salesforce’s dividend payout ratio (DPR) is 22.16%.

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.