Salesforce Inc. $CRM Shares Sold by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC reduced its Salesforce stake by 17.2% in the first quarter, selling 10,202 shares and leaving it with 49,089 shares worth about $9.16 million.
• Salesforce reported stronger-than-expected quarterly results, with $3.88 EPS versus $3.13 expected and revenue of $11.13 billion, up 13.3% year over year.
• The company has a $25 billion share buyback program in place and recently paid a quarterly dividend of $0.44 per share, equal to a 1.1% annualized yield.

Private Advisor Group LLC lessened its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,089 shares of the CRM provider's stock after selling 10,202 shares during the quarter. Private Advisor Group LLC's holdings in Salesforce were worth $9,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CRM. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 270,913 shares in the last quarter. State Street Corp lifted 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 worth $13,286,909,000 after buying an additional 659,573 shares in the last quarter. J. Stern & Co. LLP boosted its position in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider's stock valued at $12,552,896,000 after buying an additional 47,189,352 shares during the last quarter. Capital International Investors grew its stake in shares of Salesforce by 13.3% during 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 acquiring an additional 2,669,891 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Salesforce by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider's stock valued at $5,751,073,000 after acquiring an additional 791,345 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 0.1%

Shares of Salesforce stock opened at $165.94 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm has a market cap of $135.90 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.03 and a beta of 1.18. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $276.80. The business has a 50-day moving average price of $173.23 and a 200 day moving average price of $197.31.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. 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 forecast that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce declared that its board has initiated a share buyback program on Monday, March 16th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce's payout ratio is currently 20.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRM shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $250.00 price target on shares of Salesforce in a research note on Thursday, May 28th. DA Davidson lowered their price objective on Salesforce from $200.00 to $175.00 and set a "neutral" rating for the company in a research note on Thursday, May 28th. KeyCorp dropped their price objective on Salesforce from $300.00 to $290.00 and set an "overweight" rating on the stock in a report on Thursday, May 28th. HC Wainwright lowered Salesforce to a "negative" rating in a research report on Thursday, June 18th. Finally, Jefferies Financial Group upgraded Salesforce from a "buy" rating to a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average 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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