Kintra Wealth LLC Raises Stake in Salesforce Inc. $CRM

Key Points

• Kintra Wealth LLC more than doubled its Salesforce stake in the second quarter, increasing holdings by 117% to 3,896 shares valued at approximately $610,000. Institutional investors collectively own 80.43% of Salesforce.
• Analyst sentiment remains broadly positive, with Salesforce receiving a “Moderate Buy” consensus rating and an average price target of $266.50, despite some mixed rating changes.
• Salesforce reported quarterly adjusted earnings of $5.90 per share, well above the $3.27 consensus estimate, while revenue rose 10.8% year over year to $11.35 billion. The company also announced a quarterly dividend of $0.44 per share.

Kintra Wealth LLC raised its position in Salesforce Inc. (NYSE:CRM - Free Report) by 117.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,896 shares of the CRM provider's stock after purchasing an additional 2,101 shares during the period. Kintra Wealth LLC's holdings in Salesforce were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CRM. Temasek Holdings Private Ltd grew its stake in Salesforce by 3.7% during the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock worth $181,143,000 after buying an additional 24,332 shares during the last quarter. SFE Investment Counsel boosted its holdings in shares of Salesforce by 82.7% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider's stock valued at $4,608,000 after acquiring an additional 7,871 shares during the period. Fluent Financial LLC acquired a new stake in shares of Salesforce in the second quarter valued at approximately $2,265,000. Secured Retirement Advisors LLC purchased a new position in shares of Salesforce during the first quarter worth approximately $1,004,000. Finally, TAM Capital Management Inc. acquired a new position in shares of Salesforce in the 1st quarter valued at $40,945,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Craig Conway sold 4,500 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the sale, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Phillip Securities cut shares of Salesforce from a "buy" rating to a "hold" rating and decreased their price target for the stock from $253.00 to $166.00 in a research note on Monday, June 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Wednesday, September 2nd. Cantor Fitzgerald raised their price target on Salesforce from $250.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, September 2nd. JPMorgan Chase & Co. upped their price objective on Salesforce from $250.00 to $265.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Finally, BTIG Research reiterated a "buy" rating and issued a $300.00 target price on shares of Salesforce in a research note on Wednesday, September 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $266.50.

Salesforce Trading Up 0.1%

Shares of CRM opened at $259.39 on Tuesday. The firm's 50-day moving average is $193.90 and its two-hundred day moving average is $185.49. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $213.48 billion, a P/E ratio of 23.65, a PEG ratio of 1.20 and a beta of 1.20.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping analysts' consensus estimates of $3.27 by $2.63. The business had revenue of $11.35 billion for the quarter, compared to analysts' expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The company's revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, research analysts predict that Salesforce Inc. will post 12.65 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, September 17th. Salesforce's dividend payout ratio (DPR) is 16.04%.

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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