Angeles Wealth Management LLC Increases Holdings in Salesforce Inc. $CRM

Key Points

• Angeles Wealth Management increased its Salesforce stake by 40.9% in the second quarter, owning 7,510 shares valued at approximately $1.18 million. Institutional investors and hedge funds collectively own 80.43% of Salesforce.
• Salesforce reported strong quarterly results and accelerating AI growth: quarterly EPS of $5.90 exceeded estimates of $3.27, revenue rose 10.8% year over year to $11.35 billion, and Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion.
• Salesforce declared a quarterly dividend of $0.44 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $266.50. Director Craig Conway separately sold 4,500 shares for about $1.17 million.

Angeles Wealth Management LLC raised its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 40.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,510 shares of the CRM provider's stock after buying an additional 2,180 shares during the quarter. Angeles Wealth Management LLC's holdings in Salesforce were worth $1,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fred Alger Management LLC raised its stake in shares of Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock valued at $3,548,000 after acquiring an additional 45 shares during the period. Synergy Financial Group LTD lifted its stake in Salesforce by 2.4% during the third 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. CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 35.4% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider's stock worth $53,000 after purchasing an additional 52 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of Salesforce by 0.7% during the fourth quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider's stock worth $2,187,000 after buying an additional 57 shares during the period. Finally, HBW Advisory Services LLC grew its stake in shares of Salesforce by 0.4% in the first quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider's stock valued at $2,445,000 after buying an additional 57 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Key Salesforce News

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

Insider Activity

In other news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction 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 transaction, the director directly owned 5,437 shares of the company's stock, valued at $1,416,936.57. The trade was a 45.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.50% of the company's stock.

Salesforce Trading Down 1.9%

NYSE CRM opened at $259.39 on Friday. The firm's fifty day moving average price is $191.88 and its 200 day moving average price is $185.00. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $213.48 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $2.63. The company had revenue of $11.35 billion during the quarter, compared to the consensus estimate of $11.33 billion. Salesforce had a net margin of 21.99% and a return on equity of 24.90%. Salesforce's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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, sell-side analysts expect that Salesforce Inc. will post 12.65 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is 16.04%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CRM shares. Erste Group Bank raised shares of Salesforce from a "hold" rating to a "buy" rating in a research report on Wednesday, August 5th. Wedbush started coverage on Salesforce in a research note on Wednesday, July 1st. They issued an "outperform" rating on the stock. The Goldman Sachs Group reiterated a "buy" rating on shares of Salesforce in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Salesforce in a research note on Thursday, August 27th. Finally, Wall Street Zen lowered Salesforce from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $266.50.

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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