Salesforce (CRM) Stock Drops 30% — But Insiders Are Buying the Dip

TLDR

• Salesforce stock has fallen more than 30% in 2026, touching a 52-week low of $174.57
• Two board directors bought CRM stock in March at prices around $194–$195 per share
• The iShares Expanded Tech-Software Sector ETF has dropped nearly 24% this year
• Salesforce beat Q4 earnings with EPS of $3.81 vs. $3.05 expected, and authorised a $25 billion share buyback
• Multiple institutional investors increased their CRM positions in Q4 2024

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It has been a rough year for Salesforce. The stock has shed more than 30% in 2026, dragged down by broad software sector selling and fresh fears around AI competition.

Salesforce, Inc., CRM

The selloff picked up pace in late January, with AI disruption concerns repeatedly hitting the stock. One catalyst came when news broke that Anthropic’s Claude could control computers directly, stoking worries about the future role of enterprise software platforms.

Despite the pressure, two company board directors stepped in to buy CRM stock in March.

Director Laura Alber — who also serves as CEO of Williams-Sonoma — purchased 2,571 CRM stock at just under $195 each on March 19, spending $451,166 in total. It was her first open-market purchase since joining the board in November 2021.

Fellow director David Kirk, a former chief scientist at Nvidia, bought 2,570 CRM stock at $194.62 each on March 18. That was his first open-market buy of the year. Kirk now directly owns 13,689 CRM stock valued at roughly $2.5 million.

Strong Earnings, Buyback Haven’t Stopped the Slide

Salesforce reported Q4 earnings on February 25 that cleared the bar. EPS came in at $3.81, well above the consensus estimate of $3.05. Revenue hit $11.20 billion, up 12.1% year over year, and slightly ahead of estimates.

The board also authorised a $25 billion share buyback program on March 16 — enough to retire up to 14.1% of outstanding stock. The quarterly dividend was raised to $0.44, up from $0.42, equating to a $1.76 annualised payout.

None of that has been enough to stop the decline. Since March 19 — the same day Alber bought in — the stock has fallen another 7%.

Institutional Money Still Coming In

On the institutional side, CMH Wealth Management raised its CRM stake by 37.3% in Q4, adding 10,102 stock to bring its total to 37,208, worth $9.87 million. Several other funds also added to positions during the quarter.

80.43% of CRM is held by institutional investors and hedge funds.

Analyst sentiment remains broadly positive. The stock carries an average “Moderate Buy” rating with a consensus price target of $280.21 — well above current levels. Buy-side targets range from $250 (TD Cowen) to $430 (Citizens JMP).

Agilysys (AGYS), another software name that saw insider buying in mid-March, has gained 5.6% since director Melvin Keating purchased $27,289 worth of stock between March 16 and 17.

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