Cardano Risk Management B.V. Buys 36,865 Shares of Salesforce Inc. $CRM

Key Points

• Cardano Risk Management B.V. increased its Salesforce stake by 9.3% during the second quarter, purchasing 36,865 additional shares for a total of 432,871 shares valued at approximately $67.8 million. Institutional investors collectively own 80.43% of Salesforce.
• Analyst sentiment remains generally positive, with Salesforce holding a consensus “Moderate Buy” rating and an average price target of $249.51, despite some target reductions and a recent downgrade from Weiss Ratings.
• Salesforce reported stronger-than-expected quarterly results, posting adjusted EPS of $3.88 versus estimates of $3.13 and revenue of $11.13 billion. The company also declared a quarterly dividend of $0.44 per share, equivalent to a 0.9% annualized yield.

Cardano Risk Management B.V. lifted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 432,871 shares of the CRM provider's stock after purchasing an additional 36,865 shares during the quarter. Cardano Risk Management B.V. owned 0.05% of Salesforce worth $67,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Commonwealth Retirement Investments LLC bought a new stake in Salesforce during the 4th quarter valued at about $25,000. Key Capital Management INC bought a new position in shares of Salesforce in the fourth quarter worth approximately $26,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth approximately $26,000. Legacy Bridge LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $27,000. Finally, Costello Asset Management INC grew its holdings in shares of Salesforce by 410.3% during 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. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRM. Daiwa Securities Group decreased their price objective on shares of Salesforce from $295.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, June 2nd. HSBC lifted their target price on Salesforce from $350.00 to $356.00 and gave the stock a "buy" rating in a report on Friday, May 29th. Evercore restated an "outperform" rating on shares of Salesforce in a research note on Tuesday, July 14th. Erste Group Bank raised Salesforce from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Weiss Ratings cut Salesforce from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.51.

Salesforce Trading Up 3.1%

Shares of CRM stock opened at $192.48 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $269.11. The stock has a market capitalization of $157.64 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.04 and a beta of 1.16. The firm's 50 day moving average is $171.23 and its 200 day moving average is $183.26.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.75. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Research analysts expect that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce's payout ratio is currently 20.37%.

About Salesforce

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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