Salesforce Inc. $CRM Stock Purchased by Quintet Private Bank Europe S.A.

Key Points

• Quintet Private Bank Europe increased its Salesforce stake by 154.5% in the third quarter, bringing its holdings to 9,413 shares valued at approximately $2.16 million. Institutional investors collectively own 80.43% of Salesforce.
• Salesforce reported quarterly EPS of $5.90, exceeding the $3.27 analyst consensus, while revenue reached $11.35 billion, up 10.8% year over year. The company also declared a quarterly dividend of $0.44 per share, yielding 0.8% annually.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $275.14, compared with the stock’s reported trading price of $224.94.

Quintet Private Bank Europe S.A. increased its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 154.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,413 shares of the CRM provider's stock after purchasing an additional 5,714 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Salesforce were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Salesforce in the second quarter valued at approximately $11,396,844,000. State Street Corp raised its position in Salesforce by 1.3% during 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake 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 valued at $2,363,096,000 after acquiring an additional 7,160,302 shares during the period. Bank of America Corp DE purchased a new stake in shares of Salesforce in the 2nd quarter valued at $1,914,086,000. Finally, Legal & General Group Plc acquired a new stake in shares of Salesforce in the second quarter worth $927,332,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

CRM traded up $0.38 during trading on Thursday, hitting $224.94. The company's stock had a trading volume of 2,801,808 shares, compared to its average volume of 13,714,708. The firm has a market capitalization of $185.12 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.03 and a beta of 1.26. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The business's fifty day simple moving average is $224.73 and its 200 day simple moving average is $192.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $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. On average, equities research analysts forecast that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 17th. Salesforce's dividend payout ratio is 16.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRM. Raymond James Financial restated a "strong-buy" rating on shares of Salesforce in a research report on Thursday, August 27th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $250.00 price objective on shares of Salesforce in a report on Thursday, September 17th. Wells Fargo & Company upped their target price on Salesforce from $230.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Friday, September 18th. Stephens reaffirmed an "equal weight" rating and set a $289.00 target price on shares of Salesforce in a report on Friday, September 18th. Finally, Wolfe Research raised Salesforce from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.14.

Insider Activity

In related news, Director Craig Conway sold 4,500 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the transaction, the director directly owned 5,437 shares of the company's stock, valued at approximately $1,416,936.57. This trade represents a 45.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Blair Kirk acquired 4,176 shares of the business's stock in a transaction on Friday, September 18th. The shares were purchased at an average price of $239.33 per share, with a total value of $999,442.08. Following the completion of the purchase, the director owned 18,748 shares in the company, valued at $4,486,958.84. This represents a 28.66% increase in their position. The SEC filing for this purchase provides additional information. 3.50% of the stock is owned by corporate insiders.

About Salesforce

Salesforce, Inc NYSE: CRM develops cloud-based customer relationship management (CRM) software and enterprise applications. Its platform helps organizations manage sales, customer service, marketing, commerce, analytics, data integration and collaboration through subscription-based services.

The company's product portfolio includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Salesforce Platform, Data Cloud and Tableau. Salesforce also offers MuleSoft integration technology, Slack collaboration software and artificial intelligence capabilities through its Einstein platform.

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