Salesforce Inc. $CRM Holdings Lifted by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC more than doubled its Salesforce stake in the first quarter, increasing holdings by 109.5% to 25,285 shares worth about $4.72 million. Several other institutional investors also adjusted positions, and institutions now own 80.43% of Salesforce shares.
• Analyst sentiment is mixed but still leans positive: recent downgrades came from HC Wainwright, Phillip Securities, and Macquarie, while Guggenheim upgraded the stock to buy. Overall, Salesforce has a consensus rating of “Moderate Buy” with an average target price of $254.42.
• Salesforce reported strong quarterly results, posting EPS of $3.88 versus estimates of $3.13 and revenue of $11.13 billion, up 13.3% year over year. The company also reaffirmed upbeat guidance and has a $25 billion share repurchase authorization in place.

Elevation Point Wealth Partners LLC raised its position in Salesforce Inc. (NYSE:CRM - Free Report) by 109.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,285 shares of the CRM provider's stock after purchasing an additional 13,216 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Salesforce were worth $4,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC raised its holdings in Salesforce by 1.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider's stock worth $1,147,000 after purchasing an additional 43 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock valued at $3,548,000 after purchasing an additional 45 shares during the last quarter. Fulcrum Asset Management LLP boosted its stake in shares of Salesforce by 1.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 2,774 shares of the CRM provider's stock valued at $657,000 after purchasing an additional 46 shares during the last quarter. Pine Haven Investment Counsel Inc increased its position in shares of Salesforce by 1.5% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider's stock worth $835,000 after buying an additional 46 shares during the period. Finally, Richards Merrill & Peterson Inc. increased its position in shares of Salesforce by 1.1% during the fourth quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider's stock worth $1,123,000 after buying an additional 46 shares during the period. Institutional investors own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. HC Wainwright lowered shares of Salesforce to a "negative" rating in a report on Thursday, June 18th. Phillip Securities downgraded Salesforce from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $253.00 to $166.00 in a research note on Monday, June 29th. Macquarie Infrastructure cut their target price on Salesforce from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Thursday, May 28th. Guggenheim raised Salesforce from a "neutral" rating to a "buy" rating and set a $228.00 target price for the company in a research note on Wednesday. Finally, Barclays upgraded Salesforce from an "overweight" rating to an "overweight" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.42.

Salesforce Price Performance

CRM stock opened at $165.94 on Friday. 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 company's 50-day moving average is $173.23 and its 200-day moving average is $197.71. The stock has a market capitalization of $135.90 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $276.80.

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, 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 period in the previous year, the company posted $2.58 EPS. The firm's 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. Equities research analysts expect that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce's dividend payout ratio (DPR) is 20.37%.

Salesforce announced that its Board of Directors has approved a share repurchase program on Monday, March 16th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the CRM provider to purchase up to 14.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Salesforce 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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