Mogy Joel R Investment Counsel Inc. Sells 2,631 Shares of Salesforce Inc. $CRM

Mogy Joel R Investment Counsel Inc. lessened its holdings in Salesforce Inc. (NYSE:CRM) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,363 shares of the CRM provider’s stock after selling 2,631 shares during the period. Salesforce accounts for 2.5% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 14th biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $46,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Painted Porch Advisors LLC lifted its stake in shares of Salesforce by 260.0% during the 2nd quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after buying an additional 65 shares during the last quarter. Evolution Wealth Management Inc. bought a new position in shares of Salesforce during the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC boosted its stake in 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 purchasing an additional 85 shares during the period. Christopher J. Hasenberg Inc increased 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 buying an additional 92 shares during the period. Finally, Maseco LLP acquired a new stake in shares of Salesforce during the second quarter worth $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David Blair Kirk acquired 1,936 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was 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. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 134,662 shares of Salesforce 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 directly owned 139,767 shares of the company’s stock, valued at $32,803,314.90. This represents a 49.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 166,284 shares of company stock valued at $39,439,229. Insiders own 3.00% of the company’s stock.

Salesforce Trading Up 0.3%

CRM opened at $266.09 on Friday. 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 Inc. has a fifty-two week low of $221.96 and a fifty-two week high of $367.09. The company’s 50 day moving average price is $249.16 and its two-hundred day moving average price is $251.72. The firm has a market capitalization of $249.33 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 1.98 and a beta of 1.25.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 company had revenue of $10.26 billion for 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%. Salesforce’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.41 earnings per share. Salesforce has set its Q4 2026 guidance at 3.020-3.040 EPS. As a group, research analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on CRM shares. Wedbush restated an “outperform” rating and issued a $375.00 price target on shares of Salesforce in a research note on Thursday, December 4th. Truist Financial cut their price objective on shares of Salesforce from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, December 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Salesforce in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Salesforce in a research note on Monday, December 15th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Salesforce in a research note on Thursday, December 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 MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.68.

About Salesforce

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.