4,361 Shares in Salesforce Inc. $CRM Purchased by Bull Harbor Capital LLC

Bull Harbor Capital LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,361 shares of the CRM provider's stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fred Alger Management LLC raised its holdings in Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock worth $3,548,000 after acquiring an additional 45 shares during the last quarter. Richards Merrill & Peterson Inc. boosted its stake in Salesforce by 1.1% during the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider's stock valued at $1,123,000 after purchasing an additional 46 shares during the last quarter. Wright Investors Service Inc. boosted its stake in Salesforce by 0.8% during the 4th quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider's stock valued at $1,639,000 after purchasing an additional 47 shares during the last quarter. Synergy Financial Group LTD increased its holdings in shares of Salesforce by 2.4% in the 3rd quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider's stock worth $482,000 after purchasing an additional 48 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Salesforce by 6.9% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 745 shares of the CRM provider's stock worth $197,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. Barclays raised Salesforce from an "overweight" rating to an "overweight" rating in a research report on Thursday, June 18th. Morgan Stanley reiterated an "equal weight" rating and issued a $185.00 price target (down from $287.00) on shares of Salesforce in a research note on Tuesday, July 21st. Macquarie Infrastructure lowered their price objective on shares of Salesforce from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Thursday, May 28th. Canaccord Genuity Group restated a "buy" rating and issued a $225.00 target price on shares of Salesforce in a report on Tuesday, June 16th. Finally, Wedbush assumed coverage on shares of Salesforce in a research report on Wednesday, July 1st. They issued an "outperform" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.51.

Salesforce Price Performance

Shares of NYSE:CRM opened at $180.95 on Friday. The firm's 50 day moving average price is $170.26 and its 200-day moving average price is $185.02. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $148.20 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter last year, the firm posted $2.58 earnings per share. The firm's revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts expect that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Announces Dividend

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

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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