Glenview Trust Co Buys New Shares in Salesforce Inc. $CRM

Key Points

• Glenview Trust Co. bought 22,379 Salesforce shares worth approximately $3.5 million during the second quarter. Institutional investors and hedge funds collectively own 80.43% of the company.
• Salesforce reported strong quarterly results, with adjusted EPS of $5.90 versus the $3.27 consensus and revenue of $11.35 billion, up 10.8% year over year. Management also raised its fiscal 2027 revenue and earnings outlook, citing growing AI adoption.
• Analyst sentiment remains positive, with Salesforce receiving a “Moderate Buy” consensus rating and an average price target of $261.15. Shares opened at $252.15 and were up 22.6%, supported by optimism around Agentforce, Data 360 and the Anthropic partnership.

Glenview Trust Co bought a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,379 shares of the CRM provider's stock, valued at approximately $3,506,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC purchased a new stake in Salesforce in the fourth quarter valued at approximately $25,000. Gilpin Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC purchased a new position in Salesforce during the second quarter worth approximately $26,000. Persistent Asset Partners Ltd acquired a new position in shares of Salesforce in the 2nd quarter valued at $27,000. Finally, Texas Capital Bancshares Inc TX purchased a new stake in shares of Salesforce during the 3rd quarter valued at $28,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRM. Truist Financial reiterated a "buy" rating and issued a $300.00 target price (up from $280.00) on shares of Salesforce in a report on Thursday. UBS Group upped their price target on Salesforce from $210.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday. Bank of America began coverage on Salesforce in a report on Monday, May 18th. They issued an "underperform" rating and a $160.00 price objective on the stock. HSBC lifted their price objective on Salesforce from $350.00 to $356.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Finally, Jefferies Financial Group increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $261.15.

Salesforce News Summary

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: Strong quarterly performance: Salesforce reported adjusted EPS of $5.90, well above the $3.27 consensus, while revenue rose 10.8% year over year to $11.35 billion, slightly exceeding expectations. Profit was also helped by gains on strategic investments, including Salesforce’s stake in Anthropic. Salesforce stock jumps on AI growth and Anthropic investment gain
• Positive Sentiment: Raised outlook: Management lifted fiscal 2027 revenue guidance to $46.1 billion-$46.4 billion and EPS guidance to $16.67-$16.71. Third-quarter EPS guidance of $3.42-$3.44 also topped the $3.16 analyst estimate, signaling confidence in demand and profitability. Salesforce raises annual revenue forecasts on AI product momentum
• Positive Sentiment: AI adoption is gaining traction: Current remaining performance obligations accelerated 14% in constant currency, while Agentforce and Data 360 annual recurring revenue approached $3.9 billion. Reports also highlighted a sixfold increase in AI usage, supporting the view that AI may expand Salesforce’s platform rather than replace it. Jim Cramer says Nvidia and Salesforce earnings upended two bear narratives
• Positive Sentiment: Anthropic partnership expands Salesforce’s AI offering: The “Claudeforce” initiative integrates Anthropic’s Claude with Salesforce workflows, data and governance, including prebuilt sales skills. Investors view the partnership as a potential catalyst for Agentforce adoption and AI monetization. Salesforce and Anthropic announce Claudeforce
• Positive Sentiment: Analyst reaction improved: JPMorgan, Mizuho, BMO, Truist and Monness Crespi raised their price targets, with targets ranging from $260 to $300; Needham maintained a Buy rating with a $400 target. The results were widely described as weakening the “SaaSpocalypse” bear thesis. Salesforce Q2 results squash SaaSpocalypse fears

Salesforce Stock Up 22.6%

Shares of NYSE CRM opened at $252.15 on Friday. The stock has a fifty day moving average price of $179.14 and a 200 day moving average price of $182.03. 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 company has a market cap of $206.51 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.11 and a beta of 1.16.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 EPS for the quarter, topping analysts' consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 23.35% and a net margin of 21.99%.The company had revenue of $11.35 billion for the quarter, compared to analysts' expectations of $11.33 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The firm's quarterly revenue was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Research analysts anticipate that Salesforce Inc. will post 10.27 EPS for the current fiscal year.

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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