Cypress Capital Group Increases Stock Holdings in Salesforce Inc. $CRM

Cypress Capital Group lifted its stake in shares of Salesforce Inc. (NYSE:CRMFree Report) by 21.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,039 shares of the CRM provider’s stock after acquiring an additional 1,073 shares during the period. Cypress Capital Group’s holdings in Salesforce were worth $1,647,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Painted Porch Advisors LLC raised its holdings in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after buying an additional 65 shares during the period. Capital A Wealth Management LLC raised its holdings in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after buying an additional 90 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after buying an additional 85 shares during the period. Abound Financial LLC purchased a new stake in Salesforce during the 1st quarter worth approximately $31,000. Finally, Christopher J. Hasenberg Inc increased its holdings in Salesforce by 383.3% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock worth $32,000 after purchasing an additional 92 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David Blair Kirk acquired 3,400 shares of Salesforce stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the transaction, the director directly owned 3,824 shares of the company’s stock, valued at $973,819.84. This trade represents a 801.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $240.34, for a total value of $540,765.00. Following the transaction, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at $2,862,826,974.14. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,500 shares of company stock valued at $19,049,130 in the last 90 days. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Bank of America dropped their price objective on Salesforce from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Barclays dropped their price objective on Salesforce from $347.00 to $316.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Sanford C. Bernstein dropped their price objective on Salesforce from $255.00 to $221.00 and set an “underperform” rating on the stock in a report on Thursday, September 4th. Finally, Robert W. Baird dropped their price objective on Salesforce from $365.00 to $325.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Twenty-six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.89.

Get Our Latest Stock Analysis on CRM

Salesforce Price Performance

Shares of CRM opened at $242.11 on Monday. The firm has a market cap of $230.49 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.09 and a beta of 1.19. The stock has a 50 day moving average of $244.68 and a 200-day moving average of $258.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00.

Salesforce (NYSE:CRMGet Free Report) last issued its earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm earned $2.56 EPS. The business’s revenue 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. As a group, analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were given a dividend of $0.416 per share. The ex-dividend date was Wednesday, September 17th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce’s payout ratio is currently 24.13%.

Salesforce Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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