Salesforce Inc. $CRM Shares Bought by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC increased its Salesforce stake by 5.4% in the first quarter, buying 5,796 more shares and bringing its total to 113,644 shares worth about $21.2 million.
• Salesforce reported strong quarterly results, with EPS of $3.88 beating estimates and revenue of $11.13 billion, up 13.3% year over year. The company also issued FY2027 guidance and Q2 2027 guidance.
• Analyst sentiment remains mixed but constructive, with a consensus rating of “Moderate Buy” and an average price target of $254.42, though some firms recently downgraded or trimmed targets.

Wealthfront Advisers LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,644 shares of the CRM provider's stock after buying an additional 5,796 shares during the quarter. Wealthfront Advisers LLC's holdings in Salesforce were worth $21,214,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRM. Commonwealth Retirement Investments LLC acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce during the 4th quarter worth $26,000. Key Capital Management INC bought a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Gilpin Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Finally, Legacy Bridge LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $172.60 on Friday. The company has a market cap of $141.36 billion, a PE ratio of 19.98, a P/E/G ratio of 0.90 and a beta of 1.18. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $274.00. The firm has a 50-day simple moving average of $170.85 and a 200 day simple moving average of $191.34. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15.

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, sell-side analysts anticipate that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. Barclays upgraded Salesforce from an "overweight" rating to an "overweight" rating in a research note on Thursday, June 18th. The Goldman Sachs Group started coverage on Salesforce in a research note on Thursday, June 18th. They set a "neutral" rating on the stock. Raymond James Financial downgraded Salesforce from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, July 1st. Macquarie Infrastructure decreased their target price on Salesforce from $200.00 to $190.00 and set a "neutral" rating for the company in a research report on Thursday, May 28th. Finally, Royal Bank Of Canada downgraded Salesforce from a "sector perform" rating to a "sector perform" rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.42.

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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