Smithbridge Asset Management Inc. DE Sells 681 Shares of Salesforce Inc. $CRM

Smithbridge Asset Management Inc. DE trimmed its stake in Salesforce Inc. (NYSE:CRM) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,467 shares of the CRM provider’s stock after selling 681 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Salesforce were worth $5,308,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Salesforce by 1.6% in the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider’s stock worth $23,592,501,000 after acquiring an additional 1,383,942 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Salesforce by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 9,258,518 shares of the CRM provider’s stock worth $2,484,616,000 after acquiring an additional 600,386 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Salesforce by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,014,148 shares of the CRM provider’s stock worth $2,419,037,000 after acquiring an additional 437,435 shares in the last quarter. Nuveen LLC bought a new stake in Salesforce in the first quarter worth $2,039,196,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,362,035 shares of the CRM provider’s stock worth $1,707,316,000 after acquiring an additional 295,681 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 3.6%

Salesforce stock opened at $245.09 on Friday. The stock has a market cap of $233.33 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.04 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00. The stock has a fifty day moving average of $244.31 and a 200 day moving average of $258.05.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 earnings per share. 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, sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th were given a $0.416 dividend. 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 dividend payout ratio is presently 24.13%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CRM shares. Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Salesforce in a report on Thursday. Stifel Nicolaus lowered their price target on Salesforce from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Piper Sandler reaffirmed an “overweight” rating and set a $315.00 price target on shares of Salesforce in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Finally, KeyCorp lowered their price target on Salesforce from $440.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. Twenty-five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $325.23.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $238.37, for a total value of $536,332.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at $2,839,361,179.27. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 78,750 shares of company stock valued at $19,521,495 in the last three months. Corporate insiders own 3.00% of the company’s stock.

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.