Salesforce Inc. $CRM Shares Newly Purchased by Cassia Capital Partners LLC

Key Points

• Cassia Capital Partners opened a Salesforce position, buying 5,340 shares worth approximately $1.23 million in the third quarter. Institutional investors overall own 80.43% of the company’s shares.
• Salesforce reported quarterly earnings of $5.90 per share, beating the $3.27 consensus estimate, while revenue of $11.35 billion slightly topped expectations and rose 10.8% year over year.
• Analysts’ overall rating is “Moderate Buy”, with a consensus price target of $278.98; recommendations range from strong buys to a strong sell.

Cassia Capital Partners LLC purchased a new stake in Salesforce Inc. (NYSE:CRM - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,340 shares of the CRM provider's stock, valued at approximately $1,226,000.

A number of other institutional investors also recently modified their holdings of CRM. BlackRock Inc. bought a new stake in Salesforce in the 2nd quarter valued at approximately $11,396,844,000. Arrowstreet Capital Limited Partnership boosted its position in Salesforce by 130.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock worth $2,363,096,000 after acquiring an additional 7,160,302 shares during the last quarter. Bank of America Corp DE boosted its position in Salesforce by 28.0% during the 1st quarter. Bank of America Corp DE now owns 11,724,790 shares of the CRM provider's stock worth $2,188,666,000 after acquiring an additional 2,561,923 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Salesforce during the 2nd quarter worth approximately $927,332,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Salesforce during the 2nd quarter worth approximately $844,928,000. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, Director David Blair Kirk acquired 4,176 shares of the firm's stock in a transaction dated Friday, September 18th. The stock was bought at an average price of $239.33 per share, with a total value of $999,442.08. Following the transaction, the director directly owned 18,748 shares in the company, valued at approximately $4,486,958.84. The trade was a 28.66% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Craig Conway sold 4,500 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the transaction, the director owned 5,437 shares in the company, valued at $1,416,936.57. This represents a 45.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company's stock.

Salesforce Stock Down 0.6%

CRM stock opened at $213.58 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average price of $237.80 and a two-hundred day moving average price of $198.53. The company has a market cap of $175.78 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.98 and a beta of 1.24. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, topping the consensus estimate of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 EPS. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Analysts anticipate that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, September 17th. Salesforce's payout ratio is presently 16.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Salesforce from $265.00 to $280.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. Raymond James Financial restated a "strong-buy" rating on shares of Salesforce in a report on Thursday, August 27th. Wells Fargo & Company downgraded shares of Salesforce from a "buy" rating to a "strong sell" rating in a research report on Monday, October 12th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, September 17th. Finally, TD Cowen started coverage on shares of Salesforce in a research note on Monday, October 12th. They issued a "buy" rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $278.98.

Salesforce Profile

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce's products are used by organizations across a range of industries and are available to customers around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.