Evergreen Capital Management 13F: Cuts CRM Stake by $4.2M
Key Points
- Evergreen Capital Management cut its stake in Salesforce, Inc. by 18,144 shares, leaving it with 51,569 shares valued at $11,861,228.
- Salesforce, Inc. posts trailing twelve-month revenue of $43.9 billion with net margins of 22.0% ahead of its December 2, 2026 earnings report.
- Several Wall Street firms updated views on the software provider, while insiders and peers adjusted positions during the period.
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Evergreen Capital Management trimmed its stake in Salesforce, Inc. (NYSE: CRM) by 18,144 shares during the period, according to a Form 13F filing with the Securities and Exchange Commission on October 23, 2026.
CRM
Salesforce, Inc.
What Changed in Evergreen Capital Management's Salesforce Position
The fund cut its position by 26.0%, ending the quarter with 51,569 shares of the customer relationship management software provider. The remaining stake carried a reported value of $11,861,228 as of the filing date. Salesforce closed at $248.57 on October 23, 2026.
Other Institutional Activity in Salesforce, Inc.
Mondrian Investment Partners cut its Salesforce holdings by 309,708 shares, ending with 354,837 shares worth about $81,459,930. Harris Associates L.P. grew its holdings by 1,233,684 shares, ending with 16,151,269 shares worth about $4,014,721,053. Arrowstreet Capital, Limited Partnership grew its holdings by 619,052 shares, ending with 13,278,612 shares worth about $3,300,664,682.
Salesforce, Inc. Stock Up 2.8%
The stock recently traded around $248.56 as of October 24, 2026, sitting below its 52-week high of $269.11. Shares trade above the 50-day moving average of $234.04 and remain supported by steady institutional interest across the sector.
Recent Earnings
Salesforce reported trailing twelve-month revenue of $43.9 billion alongside an earnings per share figure of $11.31. The enterprise software provider achieved a return on equity of 19.4% and net profit margins of 22.0%. Investors look forward to the next financial update scheduled for December 2, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
12 target cuts vs 0 raises.
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EPS & revenue
EPS beat estimates by 23.2%. Revenue met estimates.
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Profit surprise
EBITDA missed by 35 percent. Operating income missed by 35 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
12 target cuts.
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Earnings quality
Operating margin up 2.0 points. Positive free cash flow.
Earnings Call Summary
Salesforce delivered strong second quarter fiscal 2026 results with $10.25 billion in revenue, up 10 percent year over year. The company highlighted exceptional momentum in Agent Force and Data Cloud, with Data Cloud and AI products generating $1.2 billion in ARR up 120 percent. Net new bookings from deals over $1 million grew 26 percent, and the company closed major deals with Dell, Marriott, and the US Army. Management emphasized that the agentic enterprise transformation is driving customer success, with 40 percent of Agent Force and Data Cloud bookings coming from existing customers expanding their investments.
Guidance Salesforce raised the low end of full-year revenue guidance to approximately $41.1 billion to $41.3 billion, representing about 8.5 to 9 percent growth. The company also raised non-GAAP operating margin guidance by 10 basis points to 34.1 percent and raised operating cash flow growth guidance to 12 to 13 percent. For next quarter, revenue is expected to be $10.24 billion to $10.29 billion, up 8 to 9 percent year over year.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Dividend
The company distributes an annual dividend rate of $1.76 per share, giving it a dividend yield of 0.7%. The payout ratio sits at 15.7% of earnings.
Insider Buying and Selling at Salesforce, Inc.
Director Craig Conway sold 4,500 shares on September 4, 2026, for a total value of $1,172,746. Director David Blair Kirk bought 4,176 shares on September 18, 2026, at an average price of $239.33 for a total value of $999,451.
Analysts Set New Price Targets
Citizens reiterated a Market Outperform rating with a $315.00 price target on September 18, 2026. Stephens & Co. reiterated an Equal-Weight rating with a $289.00 price target. B of A Securities upgraded the stock to Buy on October 12, 2026, raising its target from $160.00 to $285.00. DA Davidson maintained a Neutral rating on October 21, 2026, lifting its target from $225.00 to $250.00. Cantor Fitzgerald reiterated an Overweight rating on October 21, 2026, with a $300.00 price target. The stock holds a consensus buy rating from analysts with a mean price target of $286.14 across 54 opinions.
About Salesforce, Inc.
Headquartered in San Francisco, California, Salesforce provides cloud-based enterprise software that helps businesses manage customer relationships, service operations, and marketing campaigns. The company serves clients globally across various industries, utilizing integrated tools to streamline digital workflows.
Bottom Line
Evergreen Capital Management's reduction sits alongside broader portfolio shifts among major institutional managers. Market participants will monitor upcoming earnings reports and further SEC disclosures to gauge ongoing demand for enterprise software shares.
Related Filing Alerts
Source: Evergreen Capital Management's 13F filing on $CRM (Oct 23, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts