Private Wealth Partners LLC Sells 3,607 Shares of Salesforce Inc. $CRM

Private Wealth Partners LLC lessened its stake in shares of Salesforce Inc. (NYSE:CRM) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,782 shares of the CRM provider’s stock after selling 3,607 shares during the period. Private Wealth Partners LLC’s holdings in Salesforce were worth $2,759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock valued at $23,800,353,000 after buying an additional 270,913 shares in the last quarter. State Street Corp increased its holdings in Salesforce by 1.3% in the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock worth $13,286,909,000 after acquiring an additional 659,573 shares in the last quarter. J. Stern & Co. LLP increased its holdings in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after acquiring an additional 47,189,352 shares in the last quarter. Capital International Investors raised its stake in Salesforce by 13.3% during the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after acquiring an additional 2,669,891 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Salesforce by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock valued at $5,751,073,000 after purchasing an additional 791,345 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $165.94 on Friday. The business’s 50-day moving average is $173.23 and its 200 day moving average is $197.71. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $276.80. The company has a market capitalization of $135.90 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.03 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company 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. On average, equities research analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 16th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. Salesforce’s dividend payout ratio is presently 20.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CRM shares. Citigroup upgraded shares of Salesforce from a “market outperform” rating to a “buy” rating in a research report on Wednesday. KeyCorp lowered their target price on shares of Salesforce from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th. Northland Securities dropped their target price on shares of Salesforce from $267.00 to $229.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. BMO Capital Markets decreased their price target on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $254.42.

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.