Greenup Street Wealth Management LLC Has $2.22 Million Stock Position in Salesforce Inc. $CRM

Key Points

• Greenup Street Wealth Management increased its Salesforce stake by 67.7% in the first quarter, buying 4,803 additional shares. The firm now owns 11,900 shares valued at about $2.22 million.
• Salesforce reported better-than-expected quarterly results, with EPS of $3.88 versus the $3.13 estimate and revenue of $11.13 billion versus $11.05 billion expected. Revenue rose 13.3% year over year.
• The company authorized a $25 billion share buyback and announced a quarterly dividend of $0.44 per share, payable July 2. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $257.61.

Greenup Street Wealth Management LLC boosted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 67.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,900 shares of the CRM provider's stock after acquiring an additional 4,803 shares during the quarter. Greenup Street Wealth Management LLC's holdings in Salesforce were worth $2,221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd increased its stake in shares of Salesforce by 3.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock valued at $181,143,000 after buying an additional 24,332 shares during the period. SFE Investment Counsel raised its position in shares of Salesforce by 82.7% during the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider's stock worth $4,608,000 after acquiring an additional 7,871 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Salesforce by 8.9% during the third quarter. Van ECK Associates Corp now owns 1,299,513 shares of the CRM provider's stock valued at $307,984,000 after acquiring an additional 106,107 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Salesforce by 2.4% during the third quarter. Fisher Asset Management LLC now owns 4,328,230 shares of the CRM provider's stock valued at $1,025,791,000 after acquiring an additional 101,191 shares during the period. Finally, Eminence Capital LP boosted its holdings in Salesforce by 5.6% in the third quarter. Eminence Capital LP now owns 830,536 shares of the CRM provider's stock valued at $196,837,000 after acquiring an additional 43,888 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

Shares of CRM stock opened at $152.45 on Thursday. The company has a quick ratio of 0.79, a current 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 $276.80. The firm has a fifty day moving average of $176.37 and a 200-day moving average of $202.28. The firm has a market capitalization of $124.86 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.13 by $0.75. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $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. On average, equities research analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce declared that its Board of Directors has initiated a stock buyback plan on Monday, March 16th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. Salesforce's dividend payout ratio (DPR) is currently 20.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRM shares. Weiss Ratings cut Salesforce from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, June 17th. BMO Capital Markets reduced their target price on shares of Salesforce from $225.00 to $215.00 and set an "outperform" rating on the stock in a research note on Thursday, May 28th. B. Riley Financial lifted their price target on shares of Salesforce from $205.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. The Goldman Sachs Group began coverage on shares of Salesforce in a research note on Thursday, June 18th. They set a "neutral" rating for the company. Finally, Oppenheimer cut their price objective on shares of Salesforce from $275.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $257.61.

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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