Odyssean LLC Purchases 10,485 Shares of Salesforce Inc. $CRM

Key Points

• Odyssean LLC increased its Salesforce stake by 141% in the second quarter, purchasing 10,485 additional shares for a total holding of 17,920 shares valued at approximately $2.8 million. Institutional investors collectively own 80.43% of Salesforce.
• Salesforce reported quarterly revenue of $11.35 billion and adjusted earnings of $5.90 per share, significantly exceeding analyst expectations, while revenue grew 10.8% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $266.50. Salesforce also declared a quarterly dividend of $0.44 per share, yielding approximately 0.7%.

Odyssean LLC increased its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 141.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,920 shares of the CRM provider's stock after purchasing an additional 10,485 shares during the quarter. Odyssean LLC's holdings in Salesforce were worth $2,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Salesforce in the 2nd quarter worth approximately $11,396,844,000. J. Stern & Co. LLP grew its position in shares of Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider's stock worth $12,552,896,000 after buying an additional 47,189,352 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Salesforce during the second quarter valued at approximately $1,914,086,000. Norges Bank bought a new position in shares of Salesforce during the fourth quarter valued at approximately $3,182,951,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock valued at $2,363,096,000 after acquiring an additional 7,160,302 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

CRM stock opened at $259.39 on Friday. The firm has a 50 day moving average price of $191.88 and a 200-day moving average price of $185.00. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11. The firm has a market capitalization of $213.48 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.23 and a beta of 1.20. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping the consensus estimate of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The company had revenue of $11.35 billion for the quarter, compared to the consensus estimate of $11.33 billion. During the same quarter in the prior year, the business posted $2.91 EPS. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Equities research analysts forecast that Salesforce Inc. will post 12.64 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 17th. Salesforce's dividend payout ratio is currently 16.04%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CRM shares. Guggenheim reiterated a "buy" rating and issued a $228.00 price target on shares of Salesforce in a report on Thursday, August 27th. TD Cowen upped their price objective on shares of Salesforce from $240.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research report on Wednesday. Truist Financial reaffirmed a "buy" rating and set a $300.00 target price (up from $280.00) on shares of Salesforce in a research note on Thursday, August 27th. Finally, DA Davidson boosted their price target on shares of Salesforce from $175.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $266.50.

Insider Buying and Selling at Salesforce

In other news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, the director owned 5,437 shares of the company's stock, valued at $1,416,936.57. The trade was a 45.29% decrease in their position. 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 insiders.

Trending Headlines about Salesforce

Here are the key news stories impacting Salesforce this week:

• Positive Sentiment: AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
• Positive Sentiment: Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
• Positive Sentiment: Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend

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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