Douglas Lane & Associates LLC lifted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 367,924 shares of the CRM provider's stock after purchasing an additional 4,276 shares during the period. Salesforce comprises about 1.0% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 29th largest position. Douglas Lane & Associates LLC's holdings in Salesforce were worth $84,464,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position 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 stake in Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider's stock valued at $28,000 after buying an additional 119 shares during the last quarter. ABS Investment Management LLC acquired a new position in shares of Salesforce during the second quarter valued at about $610,974,000. Finally, ABS Direct Equity Fund LLC purchased a new stake in Salesforce during the 2nd quarter worth approximately $25,000. 80.43% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CRM has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on Salesforce from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, September 17th. Scotiabank cut Salesforce from a "sector outperform" rating to a "sector perform" rating in a report on Thursday, June 18th. Citigroup reiterated a "market outperform" rating on shares of Salesforce in a research report on Friday, September 18th. TD Cowen reaffirmed a "buy" rating on shares of Salesforce in a report on Thursday, September 17th. Finally, Needham & Company LLC restated a "buy" rating on shares of Salesforce in a research report on Thursday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.14.
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Salesforce Stock Performance
Shares of Salesforce stock traded up $0.52 on Friday, reaching $228.32. 1,989,397 shares of the stock were exchanged, compared to its average volume of 13,672,909. The firm has a market capitalization of $187.91 billion, a PE ratio of 20.83, a PEG ratio of 1.03 and a beta of 1.26. The business has a fifty day moving average price of $225.66 and a two-hundred day moving average price of $192.67. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly 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 business had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The business's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $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. As a group, research analysts anticipate that Salesforce Inc. will post 12.82 earnings per share for the current fiscal year.
Salesforce Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce's dividend payout ratio (DPR) is 16.04%.
Insider Buying and Selling at Salesforce
In other Salesforce news, Director Craig Conway sold 4,500 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Blair Kirk acquired 4,176 shares of the business's stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the acquisition, the director directly owned 18,748 shares in the company, valued at $4,486,958.84. This represents a 28.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.50% of the company's stock.
About Salesforce
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).
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