Maia Wealth LLC trimmed its stake in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 46.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,772 shares of the CRM provider’s stock after selling 2,385 shares during the quarter. Maia Wealth LLC’s holdings in Salesforce were worth $636,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. ABS Direct Equity Fund LLC acquired a new stake in Salesforce in the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC bought a new stake in shares of Salesforce during the second quarter worth $26,000. Persistent Asset Partners Ltd acquired a new position in shares of Salesforce during the second quarter worth $27,000. Costello Asset Management INC increased its holdings 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 worth $28,000 after buying an additional 119 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in shares of Salesforce during the second quarter worth $28,000. Institutional investors own 80.43% of the company’s stock.
More Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Salesforce agreed to acquire customer-engagement software provider BrazeNASDAQ: BRZE for approximately $5.66 billion, paying $47.50 in cash per Braze Class A share—a premium of roughly 58%. Braze’s real-time marketing and customer-engagement tools could strengthen Salesforce’s AI-powered CRM and marketing offerings. Salesforce Signs Definitive Agreement to Acquire Braze
- Positive Sentiment:The transaction could help Salesforce expand its data and AI monetization strategy by combining Braze’s behavior-based engagement platform with Salesforce’s customer data, automation and agent technology. Rival Klaviyo’s advance suggests investors see broader strategic value for the customer-engagement software sector. Salesforce Buying Customer Engagement Firm Braze
- Positive Sentiment:Salesforce’s longer-term outlook remains supported by its AI-agent ambitions and enterprise data assets, including Informatica. One bullish analysis argues the shares could deliver substantial gains by 2030 if AI adoption accelerates and the company converts its installed base into recurring revenue. I Ran the Numbers on Salesforce: Here’s Where I Think It Could Be in 2030
- Neutral Sentiment:The Braze deal is a strategic bet rather than an immediate earnings catalyst. Investors will look for details on funding, closing conditions, integration, revenue synergies and whether the acquisition improves Salesforce’s growth rate.
- Negative Sentiment:The cash purchase price and sizable premium raised concerns about capital allocation and whether Salesforce is overpaying in an increasingly competitive marketing-software market. Those concerns caused CRM shares to retreat initially despite the potential AI benefits. Salesforce Announces $5.66 Billion Deal for Braze
Insider Buying and Selling at Salesforce
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In related news, Director David Blair Kirk bought 4,176 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average cost of $239.33 per share, with a total value of $999,442.08. Following the transaction, the director directly owned 18,748 shares in the company, valued at approximately $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction on 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 directly owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. UBS Group reiterated a “buy” rating on shares of Salesforce in a research note on Friday, September 11th. Argus boosted their price objective on Salesforce from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Monness Crespi & Hardt boosted their price objective on Salesforce from $222.00 to $266.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Citigroup reaffirmed a “market outperform” rating on shares of Salesforce in a report on Tuesday. Finally, Weiss Ratings raised Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $278.40.
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