2,507 Shares in Salesforce Inc. $CRM Acquired by Independent Wealth Network Inc.

by · The Markets Daily

Independent Wealth Network Inc. bought a new stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,507 shares of the CRM provider’s stock, valued at approximately $594,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after buying an additional 205 shares during the last quarter. Bison Wealth LLC lifted its stake 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 valued at $747,000 after buying an additional 184 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Salesforce by 79.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,421 shares of the CRM provider’s stock worth $650,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in Salesforce by 4.0% in the 1st quarter. Gabelli Funds LLC now owns 2,085 shares of the CRM provider’s stock worth $560,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, Director G Mason Morfit bought 96,000 shares of the stock in a transaction dated Friday, December 5th. The stock was acquired at an average price of $260.58 per share, for a total transaction of $25,015,680.00. Following the completion of the purchase, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. This represents a 3.31% increase 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 hyperlink. Also, Director David Blair Kirk purchased 1,936 shares of Salesforce stock in a transaction that occurred on Wednesday, December 17th. The shares were bought at an average cost of $258.64 per share, for a total transaction of $500,727.04. Following the completion of the transaction, the director directly owned 10,677 shares in the company, valued at $2,761,499.28. This represents a 22.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 168,534 shares of company stock valued at $39,985,777 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.7%

Shares of NYSE:CRM opened at $265.29 on Thursday. The stock has a 50-day simple moving average of $248.30 and a 200-day simple moving average of $251.67. The stock has a market capitalization of $248.57 billion, a P/E ratio of 35.42, a PEG ratio of 1.96 and a beta of 1.25. Salesforce Inc. has a 1 year low of $221.96 and a 1 year 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.

Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the previous year, the company posted $2.41 earnings per share. Salesforce’s revenue was up 9.1% compared to the same quarter last year. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 18th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, December 18th. Salesforce’s dividend payout ratio is 22.16%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Guggenheim reiterated a “neutral” rating on shares of Salesforce in a report on Thursday, December 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $250.00 target price on shares of Salesforce in a research note on Thursday, December 4th. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Salesforce in a research note on Thursday, December 4th. Bank of America lowered their price target on Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Salesforce from $380.00 to $365.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.68.

Read Our Latest Stock Report on CRM

About Salesforce

(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.

Featured Stories

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:CRM – Free Report).