Rockefeller Capital Management L.P. Trims Stake in Salesforce Inc. $CRM

Rockefeller Capital Management L.P. decreased its stake in shares of Salesforce Inc. (NYSE:CRM) by 87.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 687,986 shares of the CRM provider’s stock after selling 4,945,182 shares during the period. Rockefeller Capital Management L.P. owned 0.07% of Salesforce worth $187,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Painted Porch Advisors LLC grew its position in shares of 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 during the period. CBIZ Investment Advisory Services LLC increased its stake in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 85 shares during the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of 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. Maseco LLP purchased a new stake in Salesforce in the second quarter valued at approximately $34,000. Finally, Quaker Wealth Management LLC increased its position 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 purchasing an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. JPMorgan Chase & Co. cut their target price on Salesforce from $380.00 to $365.00 and set an “overweight” rating on the stock in a research report on Thursday, September 4th. Canaccord Genuity Group cut their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Northland Securities cut Salesforce from an “outperform” rating to a “market perform” rating and set a $264.00 target price for the company. in a report on Tuesday, October 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Salesforce in a report on Wednesday. Finally, Citigroup boosted their price objective on shares of Salesforce from $275.00 to $276.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Twenty-five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $325.23.

Insider Activity

In related news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $246.66, for a total value of $554,985.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company’s stock, valued at approximately $2,938,108,102.86. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Blair Kirk purchased 3,400 shares of the stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the acquisition, the director directly owned 3,824 shares of the company’s stock, valued at $973,819.84. This represents a 801.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 67,622 shares of company stock valued at $16,714,561 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Salesforce Trading Up 1.4%

NYSE CRM opened at $243.86 on Friday. The company’s fifty day moving average price is $246.51 and its two-hundred day moving average price is $257.56. The company has a market capitalization of $232.16 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were issued a $0.416 dividend. The ex-dividend date was Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce’s dividend payout ratio is 24.13%.

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.