Salesforce Inc. $CRM Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its position in Salesforce Inc. (NYSE:CRM) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,644 shares of the CRM provider’s stock after purchasing an additional 5,796 shares during the quarter. Wealthfront Advisers LLC’s holdings in Salesforce were worth $21,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Byrne Asset Management LLC increased its stake in shares of Salesforce by 1.0% in the fourth quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider’s stock valued at $1,147,000 after purchasing an additional 43 shares during the period. Fred Alger Management LLC boosted its position in shares of Salesforce by 0.3% during the third quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after buying an additional 45 shares during the period. Pine Haven Investment Counsel Inc grew its holdings in Salesforce by 1.5% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider’s stock worth $835,000 after buying an additional 46 shares in the last quarter. Richards Merrill & Peterson Inc. grew its holdings in Salesforce by 1.1% in the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock worth $1,123,000 after buying an additional 46 shares in the last quarter. Finally, Wright Investors Service Inc. increased its position in Salesforce by 0.8% in the 4th quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider’s stock valued at $1,639,000 after acquiring an additional 47 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE CRM opened at $172.60 on Friday. The stock has a fifty day moving average price of $170.85 and a two-hundred day moving average price of $191.34. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $141.36 billion, a P/E ratio of 19.98, a PEG ratio of 0.90 and a beta of 1.18. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $274.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. The company 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 quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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. Research analysts forecast that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce’s payout ratio is 20.37%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRM. Roth Capital reaffirmed a “buy” rating and set a $325.00 target price on shares of Salesforce in a research note on Thursday, May 28th. Daiwa Securities Group lowered their price target on Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. B. Riley Financial lifted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a report on Tuesday. Finally, Royal Bank Of Canada lowered shares of Salesforce from a “sector perform” rating to a “sector perform” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.42.

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.