Salesforce Inc. $CRM Stock: Allworth Financial LP Boosts Position

Key Points

• Allworth Financial increased its Salesforce stake by 34% in the third quarter, adding 13,278 shares to bring its holdings to 52,367 shares, valued at about $12 million. Institutional investors and hedge funds own 80.43% of the stock.
• Salesforce reported quarterly EPS of $5.90, beating the $3.27 consensus estimate, while revenue of $11.35 billion slightly topped expectations and rose 10.8% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $278.98; Salesforce also announced a quarterly dividend of $0.44 per share.

Allworth Financial LP raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 34.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,367 shares of the CRM provider's stock after purchasing an additional 13,278 shares during the period. Allworth Financial LP's holdings in Salesforce were worth $12,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. ABS Direct Equity Fund LLC bought a new stake in shares of Salesforce in the second quarter worth $25,000. Latitude Advisors LLC bought a new position in Salesforce during the 3rd quarter valued at $25,000. Manning & Napier Advisors LLC bought a new position in Salesforce during the 2nd quarter valued at $26,000. Persistent Asset Partners Ltd acquired a new position in Salesforce during the 2nd quarter worth $27,000. Finally, Gables Capital Management Inc. acquired a new position in Salesforce during the 2nd quarter worth $28,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM stock opened at $217.66 on Friday. The company has a 50-day simple moving average of $235.27 and a 200 day simple moving average of $198.36. 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 company has a market capitalization of $179.13 billion, a P/E ratio of 16.10, a PEG ratio of 0.99 and a beta of 1.24. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11.

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

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Salesforce in a research note on Monday, October 12th. They issued a "sector weight" rating on the stock. BMO Capital Markets lifted their price target on Salesforce from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, September 17th. Zacks Research upgraded Salesforce from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 3rd. Weiss Ratings raised Salesforce from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Finally, Citigroup restated a "market outperform" rating on shares of Salesforce in a research note on Tuesday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $278.98.

Insider Buying and Selling at Salesforce

In related news, Director David Blair Kirk bought 4,176 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average cost of $239.33 per share, for a total transaction of $999,442.08. Following the acquisition, the director directly owned 18,748 shares of the company's stock, valued at $4,486,958.84. The trade was a 28.66% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig Conway sold 4,500 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the sale, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

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.

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