Oppenheimer & Co. Inc. lessened its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 13.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,556 shares of the CRM provider’s stock after selling 4,849 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Salesforce were worth $7,015,000 at the end of the most recent reporting period.
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Several other large investors have also recently modified their holdings of CRM. BlackRock Inc. purchased a new stake in shares of Salesforce during the 2nd quarter valued at approximately $11,396,844,000. Arrowstreet Capital Limited Partnership boosted its holdings in Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after buying an additional 7,160,302 shares during the period. Bank of America Corp DE purchased a new position in Salesforce in the 2nd quarter valued at approximately $1,914,086,000. Legal & General Group Plc purchased a new position in Salesforce in the 2nd quarter valued at approximately $927,332,000. Finally, Bank of New York Mellon Corp purchased a new position in Salesforce in the 2nd quarter valued at approximately $844,928,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Key Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Usage-based AI billing could improve monetization. Salesforce plans to begin charging customers based on the volume of AI-agent calls in November, moving beyond a purely seat-based model. New Agent Fabric tools for testing, evaluation and cost controls may help customers adopt agents and give Salesforce a clearer path to growing AI revenue. Salesforce Brings In Usage Based AI Billing With New Agent Fabric Controls
- Positive Sentiment:Agentforce is strengthening the generative-AI investment case. Recent commentary points to improving Agentforce traction and supports the view that Salesforce can use its large customer base to commercialize AI capabilities, potentially accelerating growth beyond its core customer-management software. Agentforce Growth Strengthens Salesforce’s Generative AI Narrative
- Positive Sentiment:Analyst and valuation coverage remains generally constructive. Zacks describes CRM as a highly ranked growth stock, while other analysis argues the shares look inexpensive relative to Salesforce’s earnings power. The company’s latest reported quarter also showed strong earnings, revenue growth and profitability, supporting the bullish case. Salesforce Stock Looks Cheap Relative To Its Earnings Power
- Neutral Sentiment:Product expansion adds ecosystem value. Fastcall launched mobile calling and SMS integrations for Salesforce on iPhone and Android, broadening customer-engagement functionality, although the third-party announcement is unlikely to materially affect near-term financial results. <a href="https://www.greenbaypressgazette.com/press-release/story/198566/fastcall-launches-fastcall-mobile-bringing-native-iphone-and-android-calling-and-sms-into-salesforce/” rel=”nofollow noopener” target=”_blank”>Fastcall Launches Fastcall Mobile
- Negative Sentiment:Recent volatility reflects execution and valuation concerns. CRM fell in the previous session even as the broader market advanced, suggesting investors remain cautious about whether AI growth will offset slower underlying growth and justify the stock’s valuation. The shift to usage-based pricing also introduces uncertainty around revenue predictability and customer adoption.
Insiders Place Their Bets
- Buy the Dip: 4 Stocks the Market Marked Down Too Far Ahead of Big Catalysts
In other Salesforce news, Director David Blair Kirk bought 4,176 shares of Salesforce stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the transaction, the director directly owned 18,748 shares in the company, valued at $4,486,958.84. This represents a 28.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,172,745.00. Following the transaction, 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 SEC filing for this sale provides additional information. Company insiders own 3.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CRM. The Goldman Sachs Group reissued a “buy” rating on shares of Salesforce in a report on Thursday, August 27th. JPMorgan Chase & Co. raised their price target on Salesforce from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Stifel Nicolaus lifted their price target on Salesforce from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Freedom Broker lifted their price target on Salesforce from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Finally, Susquehanna initiated coverage on Salesforce in a research note on Wednesday, July 1st. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.98.
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