Gemmer Asset Management LLC Cuts Stock Holdings in Salesforce Inc. $CRM

Gemmer Asset Management LLC trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM) by 19.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,383 shares of the CRM provider’s stock after selling 1,038 shares during the period. Gemmer Asset Management LLC’s holdings in Salesforce were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after purchasing an additional 3,102 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Salesforce by 12.6% during the fourth 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 during the period. Bison Wealth LLC boosted its holdings in shares of Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after purchasing an additional 184 shares during the period. Foster Group Inc. boosted its holdings in shares of Salesforce by 10.9% during the first quarter. Foster Group Inc. now owns 1,173 shares of the CRM provider’s stock worth $315,000 after purchasing an additional 115 shares during the period. Finally, Sovereign Financial Group Inc. boosted its holdings in shares of Salesforce by 4.9% during the first quarter. Sovereign Financial Group Inc. now owns 1,251 shares of the CRM provider’s stock worth $336,000 after purchasing an additional 58 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $265.77, for a total transaction of $597,982.50. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at approximately $3,165,738,224.67. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Blair Kirk bought 3,400 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were acquired at an average cost of $254.66 per share, with a total value of $865,844.00. Following the purchase, the director directly owned 3,824 shares of the company’s stock, valued at approximately $973,819.84. This represents a 801.89% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 81,000 shares of company stock valued at $20,357,213 in the last ninety days. Insiders own 3.00% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $240.25 on Friday. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a market cap of $228.72 billion, a P/E ratio of 34.92, a PEG ratio of 2.08 and a beta of 1.19. The firm has a 50-day moving average of $246.66 and a 200 day moving average of $260.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the firm earned $2.56 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce’s dividend payout ratio (DPR) is currently 24.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRM shares. DA Davidson upgraded shares of Salesforce from an “underperform” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Friday, August 15th. JMP Securities reiterated a “market outperform” rating and set a $430.00 target price on shares of Salesforce in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company dropped their target price on shares of Salesforce from $275.00 to $265.00 and set an “equal weight” rating for the company in a report on Thursday, September 4th. Finally, Bank of America decreased their price target on shares of Salesforce from $350.00 to $325.00 and set a “buy” rating for the company in a research note on Tuesday, August 26th. Twenty-six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $332.58.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.