Salesforce falls 3.1% as broader software selloff pressures large-cap SaaS

Salesforce (CRM) is down 3.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop looks most consistent with a renewed risk-off move across enterprise software, where investors have been repricing large-cap SaaS amid concerns about demand durability and AI-driven disruption to seat-based licensing models. With the company approaching a fiscal quarter-end (April 30) and the next earnings cycle ahead, sensitivity to sector headlines and positioning can be elevated.

Details:

Enterprise software stocks have seen pockets of sharp, correlated selling recently following a high-profile peer’s quarterly results and lowered expectations, which can pull down bellwethers even without company-specific news.

Sector commentary has increasingly centered on the risk that AI agents compress traditional per-user pricing and reduce software vendors’ ability to sustain historical valuation multiples, weighing on sentiment for large SaaS platforms.

Salesforce’s most recent earnings materials included non-GAAP EPS guidance ranges for Q1 FY27 and FY27, keeping the market focused on whether near-term growth and margin assumptions will hold as the next report approaches.

This could also reflect quarter-end rebalancing, where funds trim higher-beta software exposure after a volatile month.

Sources:

Salesforce Investor Relations, Nasdaq Global Indexes, AOL

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CRM Insider Trading Activity

$CRM insiders have traded $CRM stock on the open market 31 times in the past 6 months. Of those trades, 5 have been purchases and 26 have been sales.

Here’s a breakdown of recent trading of $CRM stock by insiders over the last 6 months:

PARKER HARRIS (Co-Founder and CTO, Slack) has made 0 purchases and 5 sales selling 134,662 shares for an estimated $31,605,031.
G MASON MORFIT purchased 96,000 shares for an estimated $25,015,680
MARC BENIOFF (Chair and CEO) has made 0 purchases and 20 sales selling 4,622 shares for an estimated $1,190,385.
DAVID BLAIR KIRK has made 2 purchases buying 4,506 shares for an estimated $1,000,900 and 0 sales.
NEELIE KROES sold 3,893 shares for an estimated $929,275
LAURA ALBER has made 2 purchases buying 2,571 shares for an estimated $500,266 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

$CRM Hedge Fund Activity

We have seen 1,269 institutional investors add shares of $CRM stock to their portfolio, and 1,549 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

J. STERN & CO. LLP added 47,189,352 shares (+24056.7%) to their portfolio in Q4 2025, for an estimated $12,500,931,238
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 25,418,477 shares (-75.2%) from their portfolio in Q4 2025, for an estimated $6,733,608,742
SANDERS CAPITAL, LLC added 8,615,819 shares (+inf%) to their portfolio in Q4 2025, for an estimated $2,282,416,611
JPMORGAN CHASE & CO removed 6,496,920 shares (-49.8%) from their portfolio in Q4 2025, for an estimated $1,721,099,077
AMERIPRISE FINANCIAL INC added 3,930,311 shares (+80.5%) to their portfolio in Q4 2025, for an estimated $1,041,178,687
CARDANO RISK MANAGEMENT B.V. removed 3,487,604 shares (-89.8%) from their portfolio in Q1 2026, for an estimated $650,019,633
HARRIS ASSOCIATES L P added 2,744,748 shares (+39.0%) to their portfolio in Q4 2025, for an estimated $727,111,192

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$CRM Congressional Stock Trading

Members of Congress have traded $CRM stock 8 times in the past 6 months. Of those trades, 3 have been purchases and 5 have been sales.

Here’s a breakdown of recent trading of $CRM stock by members of Congress over the last 6 months:

REPRESENTATIVE DAVID TAYLOR has traded it 4 times. They made 2 purchases worth up to $30,000 on 02/09, 01/29 and 2 sales worth up to $65,000 on 02/26.
REPRESENTATIVE JULIA LETLOW has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 02/02, 12/16.
SENATOR MARKWAYNE MULLIN purchased up to $50,000 on 12/29.
SENATOR JOHN BOOZMAN sold up to $15,000 on 11/13.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API.

$CRM Analyst Ratings

Wall Street analysts have issued reports on $CRM in the last several months. We have seen 11 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Piper Sandler issued a "Overweight" rating on 02/26/2026
BTIG issued a "Buy" rating on 12/17/2025
Needham issued a "Buy" rating on 12/04/2025
BMO Capital issued a "Outperform" rating on 12/04/2025
Wedbush issued a "Outperform" rating on 12/04/2025
Baird issued a "Outperform" rating on 12/04/2025
Citizens issued a "Market Outperform" rating on 12/04/2025

To track analyst ratings and price targets for $CRM, check out Quiver Quantitative's $CRM forecast page.

$CRM Price Targets

Multiple analysts have issued price targets for $CRM recently. We have seen 32 analysts offer price targets for $CRM in the last 6 months, with a median target of $257.5.

Here are some recent targets:

Allan Verkhovski from BTIG set a target price of $255.0 on 04/17/2026
Billy Fitzsimmons from Piper Sandler set a target price of $215.0 on 04/14/2026
Nehal Chokshi from Northland Capital Markets set a target price of $229.0 on 03/10/2026
Tyler Radke from Citigroup set a target price of $200.0 on 03/02/2026
Gil Luria from DA Davidson set a target price of $200.0 on 02/27/2026
Parker Lane from Stifel set a target price of $250.0 on 02/26/2026
Scott Berg from Needham set a target price of $400.0 on 02/26/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.