2,328 Shares in Salesforce Inc. $CRM Purchased by ZEGA Investments LLC

by · The Markets Daily

ZEGA Investments LLC acquired a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,328 shares of the CRM provider’s stock, valued at approximately $552,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Salesforce by 1.0% during the second quarter. Vanguard Group Inc. now owns 88,823,481 shares of the CRM provider’s stock worth $24,221,275,000 after buying an additional 909,853 shares in the last quarter. State Street Corp increased its position in Salesforce by 1.6% during the 2nd quarter. State Street Corp now owns 49,260,918 shares of the CRM provider’s stock worth $13,452,998,000 after purchasing an additional 776,300 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Salesforce by 0.6% in the second quarter. Geode Capital Management LLC now owns 20,873,900 shares of the CRM provider’s stock valued at $5,669,224,000 after buying an additional 114,504 shares during the last quarter. Norges Bank purchased a new position in shares of Salesforce during the 2nd quarter worth $2,826,049,000. Finally, Amundi grew its holdings in Salesforce by 26.2% in the 2nd quarter. Amundi now owns 7,755,317 shares of the CRM provider’s stock valued at $2,087,545,000 after buying an additional 1,612,413 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Sanford C. Bernstein reiterated an “underperform” rating on shares of Salesforce in a report on Thursday, December 4th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research note on Thursday, December 4th. Macquarie increased their target price on shares of Salesforce from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Oppenheimer cut their price target on Salesforce from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, December 1st. Finally, Arete Research upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.50.

Get Our Latest Analysis on Salesforce

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 134,662 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $234.70, for a total transaction of $31,605,171.40. Following the completion of the sale, the insider directly owned 139,767 shares of the company’s stock, valued at approximately $32,803,314.90. The trade was a 49.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G Mason Morfit purchased 96,000 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was bought at an average cost of $260.58 per share, for a total transaction of $25,015,680.00. Following the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 152,784 shares of company stock worth $36,173,287 in the last 90 days. 3.00% of the stock is owned by company insiders.

Salesforce Stock Down 0.3%

Salesforce stock opened at $259.29 on Tuesday. The firm has a market cap of $242.95 billion, a PE ratio of 34.62, a P/E/G ratio of 1.94 and a beta of 1.26. Salesforce Inc. has a twelve month low of $221.96 and a twelve month high of $367.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s 50 day moving average price is $250.28 and its two-hundred day moving average price is $251.35.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data 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 net margin of 17.91% and a return on equity of 14.41%. The firm had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the prior year, the company posted $2.41 earnings per share. Salesforce’s revenue for the quarter 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, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 18th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, December 18th. Salesforce’s dividend payout ratio is 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.

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