Generali Investments Management Co LLC Reduces Stock Holdings in Salesforce Inc. $CRM

Key Points

• Generali Investments Management cut its Salesforce position by 30.5% in the second quarter, selling 3,504 shares and retaining 7,998 shares valued at approximately $1.25 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 recent downgrades.
• Salesforce exceeded quarterly expectations, reporting $3.88 in earnings per share and $11.13 billion in revenue, with revenue up 13.3% year over year. The company also paid a quarterly dividend of $0.44 per share, for an annualized yield of 0.9%.

Generali Investments Management Co LLC reduced its position in Salesforce Inc. (NYSE:CRM - Free Report) by 30.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,998 shares of the CRM provider's stock after selling 3,504 shares during the quarter. Generali Investments Management Co LLC's holdings in Salesforce were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC purchased a new stake in Salesforce in the 4th quarter worth about $25,000. Key Capital Management INC purchased a new stake in Salesforce during the fourth quarter valued at about $26,000. Gilpin Wealth Management LLC purchased a new stake in Salesforce during the fourth quarter valued at about $26,000. Legacy Bridge LLC bought a new position in Salesforce during the fourth quarter worth about $27,000. Finally, Texas Capital Bancshares Inc TX bought a new position in Salesforce during the third quarter worth about $28,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. Needham & Company LLC reissued a "buy" rating on shares of Salesforce in a research report on Tuesday, June 16th. Evercore reaffirmed an "outperform" rating on shares of Salesforce in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Salesforce from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, July 24th. DA Davidson lowered their target price on shares of Salesforce from $200.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, May 28th. Finally, Citigroup upgraded Salesforce from a "hold" rating to a "buy" rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.51.

Salesforce Stock Up 2.4%

Shares of NYSE:CRM opened at $197.32 on Tuesday. The firm has a fifty day moving average price of $170.99 and a two-hundred day moving average price of $182.79. The company has a market cap of $161.61 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.04 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11.

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 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 firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.05 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The business's quarterly revenue 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. Analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

Salesforce Dividend Announcement

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