Greenwood Gearhart LLC increased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 8,852.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,622 shares of the CRM provider's stock after purchasing an additional 76,755 shares during the quarter. Greenwood Gearhart LLC's holdings in Salesforce were worth $14,490,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after acquiring an additional 205 shares in the last quarter. Bison Wealth LLC grew its position in Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock worth $747,000 after acquiring an additional 184 shares during the last quarter. Sivia Capital Partners LLC grew its position in Salesforce by 3.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider's stock worth $807,000 after acquiring an additional 106 shares during the last quarter. Finally, United Bank increased its holdings in Salesforce by 5.2% in the 2nd quarter. United Bank now owns 10,198 shares of the CRM provider's stock worth $2,781,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on CRM. BTIG Research reiterated a "buy" rating and issued a $255.00 target price on shares of Salesforce in a research report on Tuesday, May 26th. Royal Bank Of Canada cut Salesforce from a "sector perform" rating to a "sector perform" rating in a report on Wednesday, July 1st. Evercore reaffirmed an "outperform" rating on shares of Salesforce in a research note on Tuesday, July 14th. Piper Sandler lowered shares of Salesforce from an "overweight" rating to a "neutral" rating in a report on Thursday, May 28th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $250.00 target price on shares of Salesforce in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $254.42.
Check Out Our Latest Stock Analysis on CRM
Salesforce Price Performance
Shares of CRM opened at $171.20 on Monday. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $274.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $140.21 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. The business has a 50-day moving average of $170.64 and a 200-day moving average of $190.67.
Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.05 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The firm's 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. As a group, equities research analysts anticipate that Salesforce Inc. will post 10.29 earnings per share for the current year.
Salesforce Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce's dividend payout ratio is currently 20.37%.
Salesforce Company Profile
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Free Report)
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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