Munich Reinsurance Co Stock Corp in Munich Cuts Stock Position in Salesforce Inc. $CRM

Munich Reinsurance Co Stock Corp in Munich cut its stake in shares of Salesforce Inc. (NYSE:CRM) by 19.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,557 shares of the CRM provider’s stock after selling 7,885 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Salesforce were worth $5,257,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC purchased a new stake in Salesforce during the 4th quarter valued at $25,000. Manning & Napier Advisors LLC purchased a new position in shares of Salesforce in the second quarter worth $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at $26,000. Persistent Asset Partners Ltd bought a new position in shares of Salesforce during the second quarter valued at $27,000. Finally, Costello Asset Management INC boosted its position in shares of Salesforce by 410.3% during the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after buying an additional 119 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, Director Craig Conway sold 4,500 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler cut shares of Salesforce from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 28th. BTIG Research reiterated a “buy” rating and issued a $300.00 price target on shares of Salesforce in a research note on Wednesday. Truist Financial restated a “buy” rating and set a $300.00 price objective (up from $280.00) on shares of Salesforce in a research report on Thursday, August 27th. UBS Group raised their target price on shares of Salesforce from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Finally, Monness Crespi & Hardt boosted their target price on shares of Salesforce from $222.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $266.50.

Salesforce News Roundup

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

Salesforce Stock Performance

CRM opened at $259.39 on Friday. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11. The company has a market cap of $213.48 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.23 and a beta of 1.20. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The company’s 50 day moving average is $191.88 and its 200 day moving average is $185.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping the consensus estimate of $3.27 by $2.63. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The business had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. During the same quarter last year, the company posted $2.91 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities research analysts predict that Salesforce Inc. will post 12.64 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 17th. This represents a $1.76 annualized dividend and a yield of 0.7%. Salesforce’s payout ratio is 16.04%.

Salesforce Profile

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.