Mutual of America Capital Management LLC Lowers Holdings in Salesforce Inc. $CRM

Mutual of America Capital Management LLC reduced its position in shares of Salesforce Inc. (NYSE:CRMFree Report) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,258 shares of the CRM provider’s stock after selling 7,348 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Salesforce were worth $25,183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Evolution Wealth Management Inc. bought a new position in Salesforce during the 2nd quarter worth about $27,000. Marquette Asset Management LLC purchased a new stake in shares of Salesforce in the 3rd quarter worth approximately $26,000. Spurstone Advisory Services LLC bought a new position in shares of Salesforce during the second quarter valued at approximately $34,000. Quaker Wealth Management LLC increased its holdings in Salesforce by 208.6% during the second quarter. Quaker Wealth Management LLC now owns 126 shares of the CRM provider’s stock valued at $34,000 after buying an additional 242 shares during the period. Finally, Country Trust Bank raised its stake in Salesforce by 658.8% in the second quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock worth $35,000 after buying an additional 112 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, Director Neelie Kroes sold 3,893 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $238.70, for a total value of $929,259.10. Following the sale, the director directly owned 7,299 shares of the company’s stock, valued at approximately $1,742,271.30. This represents a 34.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Blair Kirk acquired 1,936 shares of Salesforce stock in a transaction on Wednesday, December 17th. The shares were bought at an average price of $258.64 per share, with a total value of $500,727.04. Following the purchase, the director directly owned 10,677 shares in the company, valued at approximately $2,761,499.28. The trade was a 22.15% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 143,177 shares of company stock worth $33,714,069. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. UBS Group reaffirmed a “neutral” rating and set a $260.00 target price on shares of Salesforce in a research report on Thursday, December 4th. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Salesforce in a research note on Thursday, December 4th. BMO Capital Markets reduced their target price on shares of Salesforce from $280.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, December 4th. Morgan Stanley lowered their price target on shares of Salesforce from $405.00 to $398.00 and set an “overweight” rating on the stock in a report on Tuesday, December 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $324.51.

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Key Salesforce News

Here are the key news stories impacting Salesforce this week:

Salesforce Trading Down 0.0%

NYSE CRM opened at $228.02 on Monday. Salesforce Inc. has a 12-month low of $218.96 and a 12-month high of $367.09. The company has a fifty day simple moving average of $247.54 and a two-hundred day simple moving average of $248.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. The stock has a market cap of $213.65 billion, a P/E ratio of 30.44, a P/E/G ratio of 1.70 and a beta of 1.26.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $10.27 billion. During the same period in the prior year, the firm earned $2.41 EPS. The firm’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. On average, analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 18th were paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, December 18th. Salesforce’s payout ratio is presently 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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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