Kingsview Wealth Management LLC raised its position in Salesforce Inc. (NYSE:CRM – Free Report) by 9.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 51,240 shares of the CRM provider’s stock after purchasing an additional 4,310 shares during the period. Kingsview Wealth Management LLC’s holdings in Salesforce were worth $13,574,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new position in Salesforce in the fourth quarter valued at $26,000. Key Capital Management INC purchased a new position in Salesforce in the fourth quarter valued at $26,000. Legacy Bridge LLC purchased a new position in Salesforce in the fourth quarter valued at $27,000. Texas Capital Bancshares Inc TX purchased a new position in Salesforce in the third quarter valued at $28,000. Finally, Dogwood Wealth Management LLC increased its holdings in Salesforce by 285.7% in the fourth quarter. Dogwood Wealth Management LLC now owns 108 shares of the CRM provider’s stock valued at $29,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Salesforce News Roundup
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: Salesforce topped Wall Street expectations for Q1, posting EPS of $3.88 and revenue of $11.13 billion, supported by continued adoption of its AI-powered tools and strong double-digit revenue growth. Reuters article
- Positive Sentiment: The company said Agentforce annualized revenue passed the $1 billion mark, reinforcing the case that its AI products are becoming a meaningful growth driver. CNBC article
- Positive Sentiment: Management also raised full-year profit guidance and said it will keep investing in strong products and share buybacks, which may help support shareholder returns. CNBC article
- Neutral Sentiment: CEO Marc Benioff pushed back on fears that AI rivals like OpenAI and Anthropic will disrupt Salesforce, arguing the company’s software remains central to enterprise customers. CNBC article
- Negative Sentiment: Investors were disappointed that revenue guidance for the year came in only slightly below expectations, while backlog metrics also appeared softer than hoped, tempering enthusiasm around the beat. CNBC article
- Negative Sentiment: Salesforce remains weighed down by investor concern that AI could reshape the enterprise software market and pressure long-term growth, keeping the stock volatile despite the quarter’s solid results. Benzinga article
Salesforce Stock Performance
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. Salesforce’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous 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. Analysts forecast that Salesforce Inc. will post 9.71 EPS for the current year.
Salesforce declared that its Board of Directors has approved a stock repurchase program on Monday, March 16th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Insider Activity
In other news, Director David Blair Kirk bought 2,570 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were bought at an average cost of $194.62 per share, for a total transaction of $500,173.40. Following the acquisition, the director directly owned 13,689 shares of the company’s stock, valued at $2,664,153.18. This trade represents a 23.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Laura Alber bought 2,571 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the completion of the acquisition, the director directly owned 9,530 shares in the company, valued at $1,854,347.40. The trade was a 36.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on CRM shares. Truist Financial set a $280.00 price objective on shares of Salesforce in a report on Thursday, February 26th. Royal Bank Of Canada cut their target price on shares of Salesforce from $290.00 to $210.00 and set a “sector perform” rating for the company in a research note on Thursday, February 26th. Barclays cut their target price on shares of Salesforce from $265.00 to $252.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Wells Fargo & Company cut their target price on shares of Salesforce from $235.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Finally, Wall Street Zen cut shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.73.
Check Out Our Latest Report on Salesforce
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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