Avanza Fonder AB Raises Position in Salesforce Inc. $CRM

Key Points

• Avanza Fonder AB increased its stake in Salesforce by 12.2% in Q2, holding 62,979 shares valued at approximately $17.17 million.
• Salesforce's latest earnings report revealed an EPS of $2.91, exceeding analysts' expectations, with a revenue of $10.24 billion, up 9.8% year-over-year.
• Analysts maintain a generally positive outlook on Salesforce, with a consensus average price target of $332.58 and a rating of "Moderate Buy".

Avanza Fonder AB grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,979 shares of the CRM provider's stock after purchasing an additional 6,862 shares during the quarter. Salesforce makes up 0.5% of Avanza Fonder AB's investment portfolio, making the stock its 28th largest position. Avanza Fonder AB's holdings in Salesforce were worth $17,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Brighton Jones LLC boosted its holdings in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC grew its position in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after buying an additional 184 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Salesforce during the 4th quarter worth $872,000. Finally, Retirement Planning Group LLC purchased a new stake in Salesforce in the fourth quarter valued at $201,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Salesforce from $404.00 to $405.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. The Goldman Sachs Group lifted their price target on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Wells Fargo & Company decreased their price objective on Salesforce from $275.00 to $265.00 and set an "equal weight" rating for the company in a report on Thursday, September 4th. Piper Sandler cut their target price on shares of Salesforce from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $332.58.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $245.09, for a total transaction of $551,452.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at $2,919,406,936.39. The trade was a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Blair Kirk acquired 3,400 shares of Salesforce stock in a transaction dated Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, for a total transaction of $865,844.00. Following the completion of the transaction, the director directly owned 3,824 shares of the company's stock, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 74,250 shares of company stock worth $18,844,155 over the last quarter. Company insiders own 3.00% of the company's stock.

Salesforce Price Performance

Salesforce stock traded down $4.20 during mid-day trading on Tuesday, reaching $245.50. The company had a trading volume of 4,952,816 shares, compared to its average volume of 7,595,769. The stock's 50-day simple moving average is $250.58 and its 200-day simple moving average is $262.38. The company has a market capitalization of $233.71 billion, a P/E ratio of 35.67, a P/E/G ratio of 2.25 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.13. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.14 billion. Salesforce had a return on equity of 13.27% and a net margin of 16.87%.Salesforce's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $2.56 EPS. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 17th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio is 24.13%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.