Czech National Bank Increases Stake in Salesforce Inc. $CRM

by · The Markets Daily

Czech National Bank boosted its stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 242,804 shares of the CRM provider’s stock after purchasing an additional 8,275 shares during the period. Czech National Bank’s holdings in Salesforce were worth $57,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRM. Painted Porch Advisors LLC grew its holdings in shares of Salesforce by 260.0% during the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock valued at $25,000 after buying an additional 65 shares during the last quarter. Evolution Wealth Management Inc. purchased a new position in Salesforce in the 2nd quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its position in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 85 shares during the period. Christopher J. Hasenberg Inc lifted its position in Salesforce by 383.3% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock worth $32,000 after acquiring an additional 92 shares during the period. Finally, Maseco LLP purchased a new stake in Salesforce during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. BTIG Research assumed coverage on Salesforce in a research note on Tuesday. They issued a “buy” rating and a $335.00 price objective for the company. BMO Capital Markets reduced their price target on shares of Salesforce from $280.00 to $275.00 and set an “outperform” rating for the company in a research report on Thursday, December 4th. Barclays lifted their price objective on shares of Salesforce from $316.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $430.00 price objective on shares of Salesforce in a research note on Friday, October 17th. Finally, DA Davidson raised their target price on shares of Salesforce from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.68.

Check Out Our Latest Analysis on CRM

Salesforce Stock Performance

CRM opened at $258.10 on Thursday. The firm has a fifty day moving average price of $246.33 and a 200 day moving average price of $251.81. Salesforce Inc. has a 1 year low of $221.96 and a 1 year high of $367.09. The stock has a market cap of $241.84 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.98 and a quick ratio of 0.98.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data 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. The company had revenue of $10.26 billion during the quarter, compared to analysts’ expectations of $10.27 billion. Salesforce had a net margin of 17.91% and a return on equity of 14.41%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. Equities research analysts anticipate 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. Shareholders of record on Thursday, December 18th will be given a dividend of $0.416 per share. The ex-dividend date is Thursday, December 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. Salesforce’s dividend payout ratio is currently 22.16%.

Insider Buying and Selling at Salesforce

In related news, Director G Mason Morfit purchased 96,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average price of $260.58 per share, with a total value of $25,015,680.00. Following the acquisition, the director owned 2,994,509 shares in the company, valued at $780,309,155.22. The trade was a 3.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 134,662 shares of the company’s stock in a transaction on 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 transaction, the insider owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This represents a 49.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 173,034 shares of company stock valued at $41,097,367. Company insiders own 3.00% of the company’s stock.

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.

Featured Articles

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).