3,093 Salesforce Inc. $CRM Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Salesforce stake by 3,093 shares, or 0.7%, bringing its holdings to 477,904 shares valued at about $113.1 million. Institutional investors collectively own 80.43% of the company.
• Analysts give Salesforce a consensus “Moderate Buy” rating, with an average price target of $278.98; 36 analysts rate the stock Buy or Strong Buy.
• Salesforce reported quarterly EPS of $5.90, above the $3.27 consensus estimate, while revenue of $11.35 billion was up 10.8% year over year. It also pays a quarterly dividend of $0.44 per share.

Allspring Global Investments Holdings LLC lifted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 477,904 shares of the CRM provider's stock after acquiring an additional 3,093 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Salesforce worth $113,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Salesforce in the 2nd quarter valued at about $11,396,844,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock valued at $2,363,096,000 after purchasing an additional 7,160,302 shares during the period. Bank of America Corp DE acquired a new stake in Salesforce in the 2nd quarter valued at about $1,914,086,000. Legal & General Group Plc acquired a new stake in Salesforce in the 2nd quarter valued at about $927,332,000. Finally, Bank of New York Mellon Corp bought a new position in Salesforce during the second quarter worth about $844,928,000. Institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Weiss Ratings raised Salesforce from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Bank of America upgraded Salesforce from an "underperform" rating to a "buy" rating and upped their price objective for the company from $160.00 to $285.00 in a research note on Monday, October 12th. DA Davidson raised their price objective on Salesforce from $225.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Salesforce in a research note on Monday, October 12th. They set a "buy" rating for the company. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Salesforce in a report on Thursday, August 27th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $278.98.

Salesforce Stock Performance

Shares of NYSE CRM opened at $214.62 on Tuesday. The stock's fifty day moving average price is $238.69 and its two-hundred day moving average price is $198.60. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The firm has a market cap of $176.63 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.03 and a beta of 1.24. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping the consensus estimate of $3.27 by $2.63. The company had revenue of $11.35 billion for the quarter, compared to analysts' expectations of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $2.91 earnings per share. 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 analysts forecast that Salesforce Inc. will post 12.82 EPS for the current year.

Salesforce Dividend Announcement

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

Salesforce Company Profile

Salesforce, Inc is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce.

The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce's products are used by organizations across a range of industries and are available to customers around the world.

Founded in 1999 by Marc Benioff and other co-founders, Salesforce is headquartered in San Francisco.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.