Gibbs Wealth Management grew its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 249.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,112 shares of the CRM provider’s stock after buying an additional 13,636 shares during the quarter. Gibbs Wealth Management’s holdings in Salesforce were worth $3,568,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Commonwealth Retirement Investments LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $25,000. Key Capital Management INC purchased a new position in Salesforce during the 4th quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in Salesforce during the 4th quarter valued at $26,000. Legacy Bridge LLC bought a new position in Salesforce in the 4th quarter valued at $27,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in Salesforce in the third quarter worth $28,000. Institutional investors own 80.43% of the company’s stock.
More Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment: Navatar announced a Claude-native deal engine built on Salesforce Agentforce, highlighting continued enterprise demand for Salesforce’s platform and AI tools. Navatar Launches Claude-Native Deal Engine for Private Equity and M&A Advisory Firms on Salesforce CRM
- Neutral Sentiment: Salesforce received an “Equal Weight” rating from Morgan Stanley, reinforcing a cautious but not outright bearish stance from one major broker. Salesforce (NYSE:CRM) Earns “Equal Weight” Rating from Morgan Stanley
- Neutral Sentiment: Montaka Global Investments described Salesforce as having a compelling outlook, suggesting some long-term investors still see value in the company’s AI and platform strategy. Key Catalysts Behind Salesforce’s (CRM) Compelling Outlook
- Negative Sentiment: Morgan Stanley cut Salesforce’s price target by 35% and downgraded the stock to Equal Weight, signaling reduced upside expectations. Morgan Stanley Slashes Salesforce Price Target By 35%
- Negative Sentiment: Another report said CRM’s recent downgrade reflects a “balanced” risk/reward profile, with analysts seeing no major growth inflection in the near term. CRM Stock Snags Second Rating Downgrade This Month
- Negative Sentiment: Salesforce fell more than the broader market as the stock continued to trade under pressure from sentiment around software valuations and AI competition. Here’s Why Salesforce (CRM) Fell More Than Broader Market
Salesforce Stock Down 3.7%
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the company posted $2.58 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, analysts expect that Salesforce Inc. will post 10.28 EPS for the current fiscal year.
Salesforce Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. Salesforce’s payout ratio is presently 20.37%.
Analyst Ratings Changes
CRM has been the subject of several research analyst reports. B. Riley Financial lifted their target price on Salesforce from $205.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Salesforce in a research note on Tuesday, June 16th. HSBC lifted their price objective on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. Bank of America started coverage on shares of Salesforce in a research note on Monday, May 18th. They issued an “underperform” rating and a $160.00 target price on the stock. Finally, DA Davidson reduced their target price on shares of Salesforce from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.51.
Read Our Latest Research Report on Salesforce
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.
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