Salesforce Inc. $CRM Shares Purchased by Osborne Partners Capital Management LLC

Key Points

• Osborne Partners Capital Management increased its Salesforce stake by 13.7% in the first quarter, adding 9,133 shares to bring its total holdings to 75,771 shares worth about $14.1 million.
• Salesforce reported better-than-expected quarterly results, with EPS of $3.88 versus $3.13 expected and revenue of $11.13 billion, up 13.3% from a year earlier.
• The company also approved a $25 billion share repurchase program, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $254.42.

Osborne Partners Capital Management LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,771 shares of the CRM provider's stock after buying an additional 9,133 shares during the quarter. Osborne Partners Capital Management LLC's holdings in Salesforce were worth $14,144,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CRM. Vanguard Group Inc. lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider's stock valued at $23,800,353,000 after acquiring an additional 270,913 shares in the last quarter. State Street Corp increased its holdings in Salesforce by 1.3% in the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider's stock valued at $13,286,909,000 after purchasing an additional 659,573 shares in the last quarter. J. Stern & Co. LLP raised its position in Salesforce by 24,056.7% in the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider's stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares during the period. Capital International Investors raised its position in Salesforce by 13.3% in the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider's stock valued at $6,019,199,000 after purchasing an additional 2,669,891 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Salesforce by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider's stock worth $5,751,073,000 after buying an additional 791,345 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM opened at $165.94 on Friday. The business's 50 day moving average is $173.23 and its two-hundred day moving average is $197.71. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $276.80. The firm has a market cap of $135.90 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.03 and a beta of 1.18. 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 released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Analysts forecast that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce announced that its Board of Directors has initiated a share repurchase plan on Monday, March 16th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the CRM provider to reacquire up to 14.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on CRM shares. Citigroup raised Salesforce from a "market outperform" rating to a "buy" rating in a research report on Wednesday. Bank of America started coverage on shares of Salesforce in a research report on Monday, May 18th. They issued an "underperform" rating and a $160.00 price objective for the company. Scotiabank cut shares of Salesforce from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, June 18th. Wall Street Zen upgraded shares of Salesforce from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, HSBC raised their price target on shares of Salesforce from $350.00 to $356.00 and gave the company a "buy" rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $254.42.

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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