Quilter 13F: Cuts Salesforce (CRM) Stake by $1.4M
Key Points
- Quilter cut its position in Salesforce by 5,974 shares to end with 26,110 shares valued at roughly $5.99 million.
- Salesforce trades around $241.68, sitting above its 50-day moving average and about 10.2% below its 52-week high.
- Harris Associates L.P. grew its holdings by 1,233,684 shares during the reporting period, ending with 16,151,269 shares worth about $3.91 billion.
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Quilter lowered its position in Salesforce, Inc. CRM by 5,974 shares in a filing on October 21, 2026. According to the SEC filing, the firm ended the period with 26,110 shares worth about $5,994,073.
CRM
Salesforce, Inc.
Quilter vs. the S&P 500
Hypothetical returns from Quilter's disclosed trades, not real profit or advice. How we model this.
What Changed in Quilter's Salesforce Position
Quilter cut its stake by 18.6% during the quarter. The firm previously held 32,084 shares of the enterprise software provider.
Other Institutional Activity in Salesforce
Other large investors adjusted their positions in Salesforce around the same time. Harris Associates L.P. grew its holdings by 1,233,684 shares, ending with 16,151,269 shares worth about $3,905,053,799. Arrowstreet Capital, Limited Partnership added 619,052 shares for a total of 13,278,612 shares valued at roughly $3,210,502,793, marking a 4.9% increase. Y-Intercept cut its stake by 180,639 shares to hold 45,871 shares worth about $10,530,605, down 79.7%. Goldstein Advisors picked up a new position of 1,158 shares valued at about $265,842.
Salesforce, Inc. Stock Up 1.1%
Salesforce recently traded around $241.68 as of October 22, 2026. The stock closed at $241.78 on the day of Quilter's filing. Shares sit about 3.8% above the 50-day moving average of $232.90 and roughly 21.6% above the 200-day moving average of $198.81. The price is about 10.2% below the 52-week high of $269.11 and 65.2% above the 52-week low of $146.32.
Recent Earnings
Salesforce reported $43.94 billion in trailing revenue and earnings of $10.93 per share. The company posted a net profit margin of 22.0% and a return on equity of 19.4%. The next quarterly report is 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
Salesforce pays an annual dividend rate of $1.76 per share, yielding 0.73%. The payout ratio stands at 15.7%.
Insider Buying and Selling at Salesforce, Inc.
Director Craig Conway sold 4,500 shares on September 4, 2026, totaling $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 on September 18 with a $315 price target. Stephens & Co. kept an equal-weight rating and a $289 price target on the same day. B of A Securities upgraded the stock to a buy on October 12, raising its target from $160 to $285. DA Davidson maintained a neutral rating on October 21 with a target of $250. Cantor Fitzgerald kept an overweight rating with a $300 target on October 21. Analysts overall carry a buy consensus with a mean target price of $286.14.
About Salesforce, Inc.
Salesforce, Inc. provides customer relationship management technology services that connect companies and customers together. Based in San Francisco, the software provider serves businesses across the United States, Europe, and the Asia Pacific region.
Bottom Line
Investors are watching how large institutional changes align with upcoming corporate earnings on December 2, 2026. Market participants continue to track ongoing insider transactions and analyst revisions.
Related Filing Alerts
Source: Quilter's 13F filing on $CRM (Oct 21, 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