Key Takeaways
- CRM shares have plummeted over 30% year-to-date in 2026, hitting a 52-week low of $174.57
- Board directors made open-market purchases in March at approximately $194–$195 per share
- The iShares Expanded Tech-Software Sector ETF has declined nearly 24% during the same period
- Q4 results exceeded expectations with EPS of $3.81 versus consensus of $3.05, alongside a $25 billion buyback authorization
- Several institutional investors expanded their CRM holdings in the fourth quarter of 2024
Salesforce has experienced significant headwinds throughout 2026. The enterprise software giant’s shares have declined more than 30% year-to-date, pressured by widespread selling across the software sector and mounting concerns about artificial intelligence competition.
The decline intensified in late January as worries about AI-driven disruption repeatedly weighed on the stock. A notable trigger occurred when Anthropic’s Claude demonstrated the ability to control computers autonomously, raising questions about the long-term positioning of traditional enterprise software providers.
Amid this turbulence, two members of the company’s board made strategic purchases of CRM shares in March.
Laura Alber, a director who concurrently serves as Williams-Sonoma’s CEO, acquired 2,571 shares at approximately $195 apiece on March 19, totaling $451,166. This marked her inaugural open-market transaction since her board appointment in November 2021.
David Kirk, another board member and Nvidia’s former chief scientist, purchased 2,570 shares at $194.62 each on March 18. This represented his first open-market acquisition of the year. Kirk’s direct holdings now total 13,689 shares with an approximate value of $2.5 million.
Impressive Financial Results and Capital Allocation Fail to Stem Losses
Salesforce unveiled its Q4 financial results on February 25, delivering performance that surpassed Wall Street expectations. Earnings per share reached $3.81, significantly outpacing the $3.05 analyst consensus. Revenue totaled $11.20 billion, representing 12.1% year-over-year growth and modestly beating projections.
The company’s board approved a substantial $25 billion share repurchase program on March 16 — sufficient to reduce outstanding shares by as much as 14.1%. Additionally, the quarterly dividend increased to $0.44 from $0.42, translating to a $1.76 annual payout.
Despite these investor-friendly initiatives, the stock’s decline has persisted. Since March 19 — when Alber made her purchase — shares have dropped an additional 7%.
Institutional Investors Continue Accumulating
On the institutional front, CMH Wealth Management expanded its CRM position by 37.3% in Q4, acquiring 10,102 additional shares to reach a total of 37,208, valued at $9.87 million. Multiple other institutional funds similarly increased their allocations during the quarter.
Institutional investors and hedge funds collectively control 80.43% of outstanding CRM shares.
Wall Street analysts maintain a predominantly bullish outlook. The stock holds an average “Moderate Buy” rating with a consensus price target of $280.21 — representing substantial upside from current trading levels. Individual analyst targets span from $250 (TD Cowen) to $430 (Citizens JMP).
For context, Agilysys (AGYS), another software company that experienced insider buying in mid-March, has appreciated 5.6% since director Melvin Keating purchased $27,289 of stock between March 16 and 17.
