Salesforce Inc. $CRM Stock Holdings Increased by Gateway Wealth Partners LLC

Key Points

• Gateway Wealth Partners increased its Salesforce stake by 350.6% in the first quarter, owning 3,681 shares valued at approximately $687,000. Institutional investors collectively hold 80.43% of Salesforce’s stock.
• Analyst sentiment remains favorable, with Salesforce carrying a consensus “Moderate Buy” rating and an average price target of $249.51, despite some analysts recently lowering targets or downgrading the stock.
• Salesforce’s latest quarterly results exceeded expectations, with EPS of $3.88 versus a $3.13 estimate and revenue of $11.13 billion. The company also pays a quarterly dividend of $0.44, equivalent to a 1.0% annual yield.

Gateway Wealth Partners LLC raised its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 350.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,681 shares of the CRM provider's stock after buying an additional 2,864 shares during the period. Gateway Wealth Partners LLC's holdings in Salesforce were worth $687,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its holdings in shares of 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 worth $12,552,896,000 after acquiring an additional 47,189,352 shares during the last quarter. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter valued at $3,182,951,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Salesforce by 130.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider's stock valued at $2,363,096,000 after purchasing an additional 7,160,302 shares during the period. Cardano Risk Management B.V. increased its stake in Salesforce by 924.7% in the 4th quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider's stock worth $1,028,807,000 after purchasing an additional 3,504,605 shares in the last quarter. Finally, Capital International Investors increased its stake in Salesforce by 13.3% in the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider's stock worth $6,019,199,000 after purchasing an additional 2,669,891 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Salesforce in a research note on Tuesday, July 21st. DA Davidson cut their price target on shares of Salesforce from $200.00 to $175.00 and set a "neutral" rating on the stock in a report on Thursday, May 28th. Citigroup upgraded shares of Salesforce from a "hold" rating to a "buy" rating in a research report on Wednesday, July 1st. Wolfe Research lowered shares of Salesforce from an "outperform" rating to a "hold" rating in a research note on Wednesday, July 1st. Finally, Macquarie Infrastructure lowered their price objective on shares of Salesforce from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.51.

Salesforce Trading Down 3.9%

Shares of NYSE CRM opened at $180.95 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The business has a 50-day moving average price of $170.26 and a two-hundred day moving average price of $185.02. The firm has a market capitalization of $148.20 billion, a PE ratio of 20.94, a PEG ratio of 1.02 and a beta of 1.18.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating 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%.The firm's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. As a group, analysts predict that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

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 paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, June 11th. Salesforce's dividend payout ratio is currently 20.37%.

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source