Odyssean LLC raised its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 141.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,920 shares of the CRM provider’s stock after acquiring an additional 10,485 shares during the quarter. Odyssean LLC’s holdings in Salesforce were worth $2,807,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CRM. Shum Financial Group Inc. lifted its holdings in shares of Salesforce by 3.9% during the second quarter. Shum Financial Group Inc. now owns 4,431 shares of the CRM provider’s stock valued at $694,000 after purchasing an additional 168 shares in the last quarter. denkapparat Operations GmbH increased its holdings in Salesforce by 126.3% in the 2nd quarter. denkapparat Operations GmbH now owns 3,444 shares of the CRM provider’s stock worth $540,000 after buying an additional 1,922 shares in the last quarter. Barlow Wealth Partners LLC raised its position in Salesforce by 44.0% in the 2nd quarter. Barlow Wealth Partners LLC now owns 95,913 shares of the CRM provider’s stock worth $15,977,000 after buying an additional 29,293 shares during the last quarter. Kickstand Ventures LLC. raised its position in Salesforce by 13.4% in the 2nd quarter. Kickstand Ventures LLC. now owns 1,304 shares of the CRM provider’s stock worth $204,000 after buying an additional 154 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in Salesforce by 118.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 146,754 shares of the CRM provider’s stock valued at $22,990,000 after acquiring an additional 79,437 shares during the period. Institutional investors own 80.43% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. CLSA assumed coverage on shares of Salesforce in a research note on Monday, July 20th. They issued a “hold” rating and a $165.00 price target for the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Salesforce in a research report on Thursday, August 27th. Wolfe Research raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 27th. Bank of America assumed coverage on Salesforce in a research note on Monday, May 18th. They issued an “underperform” rating and a $160.00 price target on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $228.00 price objective on shares of Salesforce in a research report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.50.
Salesforce Stock Performance
Shares of NYSE CRM opened at $259.39 on Friday. The stock has a market cap of $213.48 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.23 and a beta of 1.20. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. The firm has a fifty day moving average price of $191.88 and a 200-day moving average price of $185.00. 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 – Get Free Report) last released its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. Equities analysts anticipate that Salesforce Inc. will post 12.64 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 17th. Salesforce’s payout ratio is presently 16.04%.
Insider Buying and Selling at Salesforce
In related news, Director Craig Conway sold 4,500 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares in the company, valued at approximately $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by company insiders.
Key Stories Impacting Salesforce
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
- Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
- Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend
About Salesforce
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.
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