Principle Wealth Partners LLC Makes New $1.07 Million Investment in Salesforce Inc. $CRM

Key Points

• Principle Wealth Partners acquired 6,808 Salesforce shares worth approximately $1.07 million during the second quarter. Institutional investors collectively own 80.43% of the company.
• Salesforce reported quarterly revenue of $11.13 billion, up 13.3% year over year, and adjusted earnings of $3.88 per share—well above the $3.13 analyst consensus.
• The stock recently traded at $191.20, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $249.05. Salesforce also pays a quarterly dividend of $0.44, yielding about 0.9% annually.

Principle Wealth Partners LLC acquired a new stake in Salesforce Inc. (NYSE:CRM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,808 shares of the CRM provider's stock, valued at approximately $1,067,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of 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 acquiring an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after purchasing an additional 205 shares in the last quarter. Bison Wealth LLC raised its position in Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider's stock valued at $747,000 after purchasing an additional 184 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Salesforce by 3.7% during the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider's stock worth $807,000 after purchasing an additional 106 shares in the last quarter. Finally, United Bank boosted its position in shares of Salesforce by 5.2% in the second quarter. United Bank now owns 10,198 shares of the CRM provider's stock worth $2,781,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 2.6%

NYSE CRM opened at $191.20 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The company has a 50-day simple moving average of $171.58 and a 200-day simple moving average of $181.69. The firm has a market capitalization of $156.59 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.05 billion. During the same quarter last year, the company posted $2.58 earnings per share. Salesforce's revenue was up 13.3% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. On average, equities analysts forecast that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CRM. Royal Bank Of Canada lowered shares of Salesforce from a "sector perform" rating to a "sector perform" rating in a research note on Wednesday, July 1st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $225.00 price target on shares of Salesforce in a research note on Tuesday, June 16th. Roth Capital restated a "buy" rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, May 28th. TD Cowen restated a "buy" rating on shares of Salesforce in a research note on Friday, June 12th. Finally, HC Wainwright downgraded Salesforce to a "negative" rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.05.

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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