Pallas Capital Advisors LLC Purchases Shares of 47,547 Salesforce Inc. $CRM

Key Points

• Pallas Capital Advisors purchased 47,547 Salesforce shares in the second quarter, valued at approximately $7.45 million. Institutional investors collectively own 80.43% of the company.
• Salesforce reported quarterly earnings of $3.88 per share, beating estimates of $3.13, while revenue rose 13.3% year over year to $11.13 billion. The company also pays a quarterly dividend of $0.44, yielding about 0.9% annually.
• Analyst sentiment remains positive but mixed, with Salesforce holding a “Moderate Buy” consensus rating and an average price target of $249.05; the stock recently opened at $191.20.

Pallas Capital Advisors LLC purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 47,547 shares of the CRM provider's stock, valued at approximately $7,449,000.

Several other institutional investors have also recently modified their holdings of CRM. Brighton Jones LLC boosted its stake in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after buying an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares in the last quarter. Bison Wealth LLC lifted its holdings in shares of Salesforce by 9.0% in 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 boosted its stake in shares of Salesforce by 3.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider's stock valued at $807,000 after purchasing an additional 106 shares in the last quarter. Finally, United Bank boosted its stake in shares of Salesforce by 5.2% in the 2nd quarter. United Bank now owns 10,198 shares of the CRM provider's stock valued at $2,781,000 after purchasing an additional 500 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 2.6%

NYSE CRM opened at $191.20 on Tuesday. 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 stock has a market capitalization of $156.59 billion, a PE ratio of 22.13, a PEG ratio of 1.06 and a beta of 1.16. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. The business's 50-day moving average is $171.58 and its 200 day moving average is $181.69.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the company posted $2.58 EPS. Salesforce's quarterly revenue was up 13.3% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Sell-side analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Salesforce's dividend payout ratio (DPR) is presently 20.37%.

Analyst Ratings Changes

Several analysts have issued reports on CRM shares. Morgan Stanley restated an "equal weight" rating and set a $185.00 price target (down from $287.00) on shares of Salesforce in a research report on Tuesday, July 21st. Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a report on Wednesday, August 5th. Guggenheim upgraded Salesforce from a "neutral" rating to a "buy" rating and set a $228.00 target price for the company in a report on Wednesday, July 1st. Raymond James Financial restated a "strong-buy" rating on shares of Salesforce in a research report on Tuesday, July 21st. Finally, Wolfe Research cut Salesforce from an "outperform" rating to a "hold" rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $249.05.

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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