Oak Harvest Investment Services Purchases 4,190 Shares of Salesforce Inc. $CRM

Key Points

• Oak Harvest Investment Services increased its stake in Salesforce Inc. by 32.1%, acquiring an additional 4,190 shares in the first quarter, bringing its total holdings to 17,238 shares valued at $4,626,000.
• Salesforce had a strong quarterly performance, reporting an EPS of $2.58 which exceeded estimates by $0.03, and revenue of $9.83 billion, up 7.6% year-over-year.
• Institutional investors now hold 80.43% of Salesforce's stock, with multiple funds significantly increasing their positions over the last quarter.

Oak Harvest Investment Services boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 32.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,238 shares of the CRM provider's stock after buying an additional 4,190 shares during the period. Oak Harvest Investment Services' holdings in Salesforce were worth $4,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC increased its position in Salesforce by 158.4% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 23,024 shares of the CRM provider's stock valued at $6,179,000 after buying an additional 14,113 shares in the last quarter. Quantitative Investment Management LLC lifted its holdings in shares of Salesforce by 39.0% in the first quarter. Quantitative Investment Management LLC now owns 25,651 shares of the CRM provider's stock valued at $6,883,000 after purchasing an additional 7,195 shares in the last quarter. Enterprise Financial Services Corp lifted its holdings in shares of Salesforce by 3.8% in the first quarter. Enterprise Financial Services Corp now owns 1,189 shares of the CRM provider's stock valued at $319,000 after purchasing an additional 44 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Salesforce by 11,227.2% in the first quarter. Jump Financial LLC now owns 122,447 shares of the CRM provider's stock valued at $32,860,000 after purchasing an additional 121,366 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in shares of Salesforce by 4.9% in the first quarter. SVB Wealth LLC now owns 17,072 shares of the CRM provider's stock valued at $4,582,000 after purchasing an additional 803 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE CRM opened at $248.0150 on Friday. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The stock's 50 day moving average price is $258.37 and its 200-day moving average price is $271.92. The company has a market capitalization of $237.10 billion, a PE ratio of 38.81, a PEG ratio of 2.25 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. Salesforce has set its FY 2026 guidance at 11.270-11.330 EPS. Q2 2026 guidance at 2.760-2.780 EPS. On average, equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce's dividend payout ratio is presently 25.98%.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $246.07, for a total transaction of $553,657.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $2,931,080,275.97. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 52,577 shares of company stock worth $13,528,188. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Wells Fargo & Company raised their target price on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. The Goldman Sachs Group raised their target price on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Oppenheimer restated an "outperform" rating and issued a $370.00 target price on shares of Salesforce in a report on Tuesday, June 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $342.89.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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