Adell Harriman & Carpenter Inc. Sells 9,510 Shares of Salesforce Inc. $CRM

Key Points

• Adell Harriman & Carpenter Inc. reduced its Salesforce stake by 28% in the first quarter, selling 9,510 shares and leaving it with 24,414 shares valued at about $4.56 million.
• Salesforce’s latest quarter beat expectations, with EPS of $3.88 on revenue of $11.13 billion, while revenue rose 13.3% year over year. The company also issued FY2027 guidance and continues to show solid profitability metrics.
• Analysts remain mixed but generally constructive on CRM, with a consensus rating of Moderate Buy and an average price target of $254.42. Recent notes ranged from bullish upgrades and overweight ratings to some more cautious underperform/hold calls.

Adell Harriman & Carpenter Inc. trimmed its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,414 shares of the CRM provider's stock after selling 9,510 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in Salesforce were worth $4,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce in the fourth quarter valued at about $25,000. Board of the Pension Protection Fund purchased a new position in Salesforce during the 4th quarter valued at about $26,000. Key Capital Management INC bought a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Finally, Legacy Bridge LLC purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. 80.43% of the stock is currently owned by institutional investors.

Trending Headlines about Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Jim Cramer urged investors to stick with Salesforce despite bearish analyst views, which may help support sentiment around the stock. Jim Cramer Urges to Stick With Salesforce Inc. (CRM) Despite Analyst Bearishness
• Positive Sentiment: Several bullish articles argue Salesforce is undervalued relative to its growth prospects, especially as investors rotate toward cheaper earnings-growth names. Earnings season plays: Profit expectations are growing for these stocks while their valuations get cheaper
• Positive Sentiment: Salesforce’s U.S. Air Force fleet-management deal highlights expanding government adoption of its Missionforce platform and strengthens the AI/logistics growth story. How a Major U.S. Air Force Fleet Deal At Salesforce (CRM) Has Changed Its Investment Story
• Positive Sentiment: Commentary from 247WallSt says Salesforce’s agentic AI opportunities could be overlooked by the market, framing the stock as a buy at current levels. Ignore Wall Street and Buy Salesforce for its Agentic AI
• Neutral Sentiment: Another 247WallSt piece compares Salesforce favorably with Palantir and argues the market may be overlooking its value, reinforcing the same bullish valuation narrative. Forget Palantir as It Bounces Back and Get in Salesforce Before Wall Street Wakes Up to Real Value
• Neutral Sentiment: Motley Fool suggested Salesforce could be undervalued if pending acquisitions help solve its growth slowdown, but the article is still more speculative than concrete. Salesforce Could Be Undervalued if This Acquisition Solves Its Biggest Growth Problem
• Negative Sentiment: KeyCorp’s Q1 earnings forecast note suggests analysts are still modeling the business closely, which can keep attention on whether Salesforce can meet elevated expectations. Q1 Earnings Forecast for Salesforce Issued By KeyCorp

Salesforce Price Performance

Shares of CRM opened at $167.55 on Wednesday. The company has a market cap of $137.23 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $274.00. 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 company has a 50 day moving average of $171.40 and a two-hundred day moving average of $192.68.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce's payout ratio is currently 20.37%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRM. Wall Street Zen upgraded shares of Salesforce from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Bank of America initiated coverage on Salesforce in a report on Monday, May 18th. They set an "underperform" rating and a $160.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 target price on shares of Salesforce in a research report on Thursday, May 28th. UBS Group started coverage on Salesforce in a report on Wednesday, July 1st. They issued an "overweight" rating on the stock. Finally, Phillip Securities lowered Salesforce from a "buy" rating to a "hold" rating and reduced their price target for the stock from $253.00 to $166.00 in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.42.

Salesforce 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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