Channing Capital Management LLC Has $11.02 Million Position in Salesforce Inc. $CRM

by · The Cerbat Gem

Channing Capital Management LLC lifted its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 12.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,417 shares of the CRM provider’s stock after buying an additional 4,318 shares during the period. Channing Capital Management LLC’s holdings in Salesforce were worth $11,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Painted Porch Advisors LLC grew its stake in Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after purchasing an additional 65 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Salesforce by 314.8% in 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 last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Salesforce by 383.3% in the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock valued at $32,000 after buying an additional 92 shares in the last quarter. Maseco LLP bought a new position in shares of Salesforce in the second quarter valued at $34,000. Finally, 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 worth $34,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $238.47 on Thursday. The company has a market capitalization of $227.02 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 1.83 and a beta of 1.25. 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 12 month low of $221.96 and a 12 month high of $369.00. The stock’s 50 day moving average is $242.78 and its 200-day moving average is $253.10.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, December 3rd. The CRM provider reported $3.25 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.39. The business had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $2.41 EPS. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, October 16th. Wall Street Zen raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Friday, November 28th. Citizens Jmp reiterated a “market outperform” rating and set a $430.00 price target on shares of Salesforce in a report on Tuesday. Piper Sandler reissued an “overweight” rating and set a $315.00 price target on shares of Salesforce in a research report on Thursday, October 16th. Finally, Bank of America cut their price objective on Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Twenty-five equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.29.

Check Out Our Latest Report on CRM

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $234.70, for a total value of $31,605,171.40. Following the transaction, the insider directly owned 139,767 shares in the company, valued at approximately $32,803,314.90. This represents a 49.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 122 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $259.00, for a total transaction of $31,598.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,085,096,889. This represents a 0.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 184,284 shares of company stock valued at $43,862,999. 3.00% of the stock is currently owned by company insiders.

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.

Further Reading

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