Positano Wealth Management Ltd Acquires 29,546 Shares of Salesforce Inc. $CRM

Key Points

• Positano Wealth Management increased its Salesforce stake by 234.5% in the first quarter, purchasing 29,546 additional shares. The firm now owns 42,146 shares valued at approximately $7.87 million, representing 5.8% of its portfolio.
• Salesforce reported stronger-than-expected quarterly results, with EPS of $3.88 versus the $3.13 consensus estimate and revenue of $11.13 billion. Revenue grew 13.3% year over year, and the company pays a quarterly dividend of $0.44 per share.
• Analyst sentiment remains generally positive, with Salesforce carrying a consensus “Moderate Buy” rating and an average price target of $249.51, despite some recent downgrades to neutral or hold.

Positano Wealth Management Ltd raised its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 234.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,146 shares of the CRM provider's stock after buying an additional 29,546 shares during the period. Salesforce accounts for approximately 5.8% of Positano Wealth Management Ltd's portfolio, making the stock its 7th biggest holding. Positano Wealth Management Ltd's holdings in Salesforce were worth $7,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Temasek Holdings Private Ltd grew its position in shares of Salesforce by 3.7% in the fourth quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider's stock valued at $181,143,000 after purchasing an additional 24,332 shares during the last quarter. SFE Investment Counsel increased its stake 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 worth $4,608,000 after purchasing an additional 7,871 shares during the period. Secured Retirement Advisors LLC acquired a new position in shares of Salesforce during the 1st quarter worth about $1,004,000. TAM Capital Management Inc. acquired a new position in shares of Salesforce during the 1st quarter worth about $40,945,000. Finally, Hilton Head Capital Partners LLC bought a new stake in Salesforce during the 4th quarter valued at approximately $997,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

CRM opened at $184.34 on Monday. The stock's 50 day simple moving average is $170.34 and its 200-day simple moving average is $184.49. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock has a market cap of $150.98 billion, a PE ratio of 21.34, a P/E/G ratio of 1.00 and a beta of 1.18. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping 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 firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same period last year, the business earned $2.58 earnings per share. 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 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 11th. Salesforce's payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Citizens Jmp reaffirmed a "market outperform" rating and issued a $315.00 target price on shares of Salesforce in a report on Thursday, May 28th. KeyCorp cut Salesforce from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, July 8th. Monness Crespi & Hardt upgraded shares of Salesforce from a "neutral" rating to a "buy" rating and set a $200.00 price objective on the stock in a research note on Thursday, June 18th. Wall Street Zen lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Salesforce in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, sixteen have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $249.51.

About Salesforce

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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