Salesforce Inc. $CRM Stock Bought by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. raised its holdings in Salesforce Inc. (NYSE:CRM) by 154.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,413 shares of the CRM provider’s stock after acquiring an additional 5,714 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Salesforce were worth $2,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. Commonwealth Retirement Investments LLC purchased a new position in Salesforce during the fourth quarter worth approximately $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Salesforce in the 4th quarter worth $34,000. Abound Financial LLC acquired a new stake in shares of Salesforce in the 4th quarter worth $38,000. Costello Asset Management INC raised its holdings in shares of Salesforce by 410.3% during the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 119 shares during the period. Finally, ABS Investment Management LLC acquired a new position in shares of Salesforce during the 2nd quarter valued at about $610,974,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 0.2%

Shares of NYSE CRM traded up $0.38 during trading on Thursday, reaching $224.94. The stock had a trading volume of 2,801,808 shares, compared to its average volume of 13,714,708. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50-day moving average price is $224.73 and its 200-day moving average price is $192.44. The company has a market cap of $185.12 billion, a P/E ratio of 20.49, a PEG ratio of 1.03 and a beta of 1.26.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.Salesforce’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, equities research analysts predict that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Salesforce’s dividend payout ratio is 16.04%.

Insider Activity at Salesforce

In other Salesforce news, Director David Blair Kirk purchased 4,176 shares of the company’s stock in a transaction on Friday, September 18th. The stock was acquired at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the purchase, the director directly owned 18,748 shares in the company, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig Conway sold 4,500 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and set a $300.00 price objective on shares of Salesforce in a research report on Wednesday, September 2nd. Freedom Broker lifted their price target on shares of Salesforce from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their target price on Salesforce from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, September 17th. Finally, KeyCorp cut Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.14.

About Salesforce

Salesforce, Inc (NYSE: CRM) develops cloud-based customer relationship management (CRM) software and enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, analytics, data integration and collaboration through subscription-based services.

The company’s product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Salesforce Platform, Data Cloud and Tableau. Salesforce also offers MuleSoft integration technology, Slack collaboration software and artificial intelligence capabilities through its Einstein platform.