StoneX Group Inc. increased its position in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 77.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,621 shares of the CRM provider’s stock after purchasing an additional 2,455 shares during the quarter. StoneX Group Inc.’s holdings in Salesforce were worth $1,282,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thor Investment Management Inc. OH ADV boosted its stake in shares of Salesforce by 0.7% in the 3rd quarter. Thor Investment Management Inc. OH ADV now owns 6,422 shares of the CRM provider’s stock worth $1,474,000 after buying an additional 45 shares during the last quarter. Bradley & Co. Private Wealth Management LLC grew its holdings in shares of Salesforce by 9.6% in the third quarter. Bradley & Co. Private Wealth Management LLC now owns 558 shares of the CRM provider’s stock valued at $128,000 after acquiring an additional 49 shares in the last quarter. Crumly & Associates Inc. increased its position in shares of Salesforce by 1.5% during the third quarter. Crumly & Associates Inc. now owns 3,396 shares of the CRM provider’s stock valued at $780,000 after acquiring an additional 50 shares during the last quarter. Meridian Financial Partners LLC increased its position in shares of Salesforce by 1.1% during the third quarter. Meridian Financial Partners LLC now owns 4,700 shares of the CRM provider’s stock valued at $1,160,000 after acquiring an additional 50 shares during the last quarter. Finally, Peterson Wealth Services lifted its holdings in Salesforce by 3.6% during the third quarter. Peterson Wealth Services now owns 1,549 shares of the CRM provider’s stock worth $356,000 after acquiring an additional 54 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Thursday, September 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Salesforce in a research report on Wednesday, October 21st. Weiss Ratings upgraded Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Needham & Company LLC reiterated a “buy” rating on shares of Salesforce in a research note on Thursday, September 17th. Finally, Yorkville Ives began coverage on shares of Salesforce in a report on Monday, October 5th. They issued an “outperform” rating and a $290.00 price target on the stock. Four investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.98.
Check Out Our Latest Report on Salesforce
Insider Activity
In other Salesforce news, Director David Blair Kirk bought 4,176 shares of the business’s stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the transaction, the director directly owned 18,748 shares of the company’s stock, valued at $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Conway sold 4,500 shares of Salesforce 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 transaction, the director owned 5,437 shares of the company’s stock, valued at $1,416,936.57. The trade was a 45.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is owned by corporate insiders.
Salesforce Price Performance
Shares of NYSE CRM opened at $214.62 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $238.69 and a two-hundred day simple moving average of $198.60. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The firm has a market cap of $176.63 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.24.
Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results 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. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. During the same period in the previous year, the company posted $2.91 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Analysts anticipate that Salesforce Inc. will post 12.82 earnings per share for the current year.
Salesforce Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce’s payout ratio is currently 16.04%.
Salesforce Company 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.
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