Salesforce Inc. $CRM Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its stake in shares of Salesforce Inc. (NYSE:CRM) by 17.2% in the 1st quarter, Holdings Channel reports. The firm owned 49,089 shares of the CRM provider’s stock after selling 10,202 shares during the quarter. Private Advisor Group LLC’s holdings in Salesforce were worth $9,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CRM. MOR Wealth Management LLC acquired a new stake in Salesforce in the first quarter worth $421,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Salesforce during the first quarter valued at $11,778,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Salesforce by 65.2% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 321,579 shares of the CRM provider’s stock worth $60,029,000 after acquiring an additional 126,924 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in shares of Salesforce by 109.5% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 25,285 shares of the CRM provider’s stock worth $4,720,000 after acquiring an additional 13,216 shares during the period. Finally, Platform Technology Partners increased its holdings in shares of Salesforce by 5.4% in the 1st quarter. Platform Technology Partners now owns 2,469 shares of the CRM provider’s stock worth $461,000 after acquiring an additional 126 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CRM shares. B. Riley Financial boosted their target price on shares of Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Sanford C. Bernstein dropped their price target on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a research note on Thursday, May 28th. Guggenheim raised Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 price target on the stock in a report on Wednesday. Jefferies Financial Group raised Salesforce from a “buy” rating to a “buy” rating in a report on Wednesday. Finally, HSBC raised their target price on Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $254.42.

Salesforce Stock Down 0.1%

Salesforce stock opened at $165.94 on Monday. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $276.80. The stock has a market cap of $135.90 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.03 and a beta of 1.18. The company’s 50-day moving average price is $173.23 and its two-hundred day moving average price is $197.31. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, analysts expect that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce announced that its Board of Directors has authorized a stock buyback plan on Monday, March 16th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

Salesforce Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.