2,932 Shares in Salesforce Inc. $CRM Bought by GK Wealth Management LLC

Key Points

• GK Wealth Management purchased 2,932 Salesforce shares during the second quarter, valued at approximately $459,000. Institutional investors collectively own 80.43% of Salesforce stock.
• Salesforce reported quarterly EPS of $3.88, beating estimates of $3.13, while revenue rose 13.3% year over year to $11.13 billion. The company also pays a $0.44 quarterly dividend, yielding 0.9% annually.
• Analyst sentiment remains broadly positive, with Salesforce carrying a “Moderate Buy” consensus rating and an average price target of $249.51, despite several recent rating or target-price reductions.

GK Wealth Management LLC bought a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,932 shares of the CRM provider's stock, valued at approximately $459,000.

Several other institutional investors also recently bought and sold shares of CRM. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce during the 4th quarter worth about $25,000. Key Capital Management INC acquired a new position in shares of Salesforce during the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at approximately $26,000. Legacy Bridge LLC acquired a new stake in Salesforce in the 4th quarter worth approximately $27,000. Finally, Costello Asset Management INC lifted its holdings in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock worth $28,000 after purchasing an additional 119 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 2.7%

NYSE CRM opened at $191.02 on Wednesday. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The stock has a market cap of $156.45 billion, a PE ratio of 22.11, a PEG ratio of 1.01 and a beta of 1.16. The firm has a 50-day simple moving average of $170.69 and a 200 day simple moving average of $183.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $2.58 earnings per share. 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, research analysts forecast that Salesforce Inc. will post 10.27 EPS for the current 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 dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Salesforce's payout ratio is currently 20.37%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CRM shares. Wells Fargo & Company decreased their target price on Salesforce from $210.00 to $200.00 and set an "equal weight" rating for the company in a research report on Thursday, May 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $250.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Truist Financial cut shares of Salesforce from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Monness Crespi & Hardt raised shares of Salesforce from a "neutral" rating to a "buy" rating and set a $200.00 price objective for the company in a report on Thursday, June 18th. Finally, Scotiabank lowered shares of Salesforce from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $249.51.

Salesforce Company 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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