Salesforce Inc. $CRM Stock: Gen Wealth Partners Inc Increases Holdings

Gen Wealth Partners Inc grew its position in Salesforce Inc. (NYSE:CRM) by 33.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,752 shares of the CRM provider’s stock after purchasing an additional 2,438 shares during the quarter. Gen Wealth Partners Inc’s holdings in Salesforce were worth $2,239,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Latitude Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth $25,000. ABS Investment Management LLC purchased a new position in Salesforce during the 2nd quarter worth $610,974,000. ABS Direct Equity Fund LLC acquired a new position in Salesforce during the 2nd quarter valued at about $25,000. Manning & Napier Advisors LLC acquired a new position in Salesforce during the 2nd quarter valued at about $26,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Salesforce in the second quarter valued at about $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 0.5%

NYSE:CRM opened at $214.62 on Tuesday. The company’s fifty day moving average price is $238.69 and its 200-day moving average price is $198.60. The firm has a market capitalization of $176.63 billion, a P/E ratio of 19.56, a PEG ratio of 1.03 and a beta of 1.24. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $2.63. The business had revenue of $11.35 billion during the quarter, compared to analysts’ expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, equities research analysts anticipate that Salesforce Inc. will post 12.82 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Salesforce’s dividend payout ratio (DPR) is presently 16.04%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Salesforce in a report on Thursday, August 27th. Wolfe Research upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Salesforce in a research report on Thursday, August 27th. TD Cowen assumed coverage on shares of Salesforce in a research note on Monday, October 12th. They issued a “buy” rating for the company. Finally, Monness Crespi & Hardt lifted their target price on shares of Salesforce from $222.00 to $266.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $278.98.

Insider Activity at Salesforce

In other Salesforce news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Blair Kirk acquired 4,176 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $239.33 per share, with a total value of $999,442.08. Following the transaction, the director owned 18,748 shares of the company’s stock, valued at approximately $4,486,958.84. This trade represents a 28.66% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is owned by insiders.

Salesforce Profile

Salesforce, Inc is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce.

The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.

Founded in 1999 by Marc Benioff and other co-founders, Salesforce is headquartered in San Francisco.