Lazari Capital Management Inc. reduced its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 59.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,886 shares of the CRM provider’s stock after selling 2,823 shares during the quarter. Lazari Capital Management Inc.’s holdings in Salesforce were worth $433,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Costello Asset Management INC grew its stake in Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 119 shares during the period. ABS Investment Management LLC bought a new stake in shares of Salesforce during the second quarter valued at approximately $610,974,000. ABS Direct Equity Fund LLC acquired a new position in shares of Salesforce during the second quarter worth approximately $25,000. Manning & Napier Advisors LLC acquired a new position in shares of Salesforce during the second quarter worth approximately $26,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Salesforce during the second quarter worth approximately $27,000. Institutional investors own 80.43% of the company’s stock.
Insider Activity
In related news, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the transaction, the director directly owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Blair Kirk purchased 4,176 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were purchased at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the acquisition, the director owned 18,748 shares of the company’s stock, valued at $4,486,958.84. The trade was a 28.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.
Salesforce News Roundup
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Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Salesforce will pay $47.50 per Braze share, a premium of approximately 58%, adding a customer-engagement platform that uses real-time customer behavior data. The transaction could strengthen Salesforce’s marketing capabilities, broaden its AI product portfolio and create cross-selling opportunities across its enterprise customer base. Salesforce Signs Definitive Agreement to Acquire Braze
- Positive Sentiment:Braze’s acquisition puts the value of customer-engagement and marketing software in focus, lifting sentiment toward the broader sector. For Salesforce, the deal supports its effort to make AI more useful by combining customer data, marketing automation and its CRM platform. Braze rallies as Salesforce acquisition puts marketing software in focus
- Neutral Sentiment:Salesforce’s Informatica acquisition continues to be viewed as a potential data advantage that could improve its AI offerings and generate additional revenue. Investors are likely to focus on whether these data and software investments translate into faster, more sustainable growth. Informatica Boosts Salesforce’s Data Edge
- Negative Sentiment:The all-cash Braze transaction is pressuring Salesforce shares because investors are questioning whether the premium is justified and whether management can integrate another major platform while maintaining growth and margins. The acquisition also increases near-term capital-allocation and execution risk. Salesforce stock falls as Braze deal raises acquisition concerns
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of Salesforce in a report on Tuesday. DA Davidson set a $225.00 price target on shares of Salesforce in a research note on Thursday, September 17th. Freedom Broker upped their price objective on shares of Salesforce from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Morgan Stanley set a $315.00 price objective on shares of Salesforce in a research note on Wednesday, September 2nd. Finally, Susquehanna started coverage on shares of Salesforce in a research note on Wednesday, July 1st. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $278.40.
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