Sanctuary Advisors LLC Raises Stock Holdings in Salesforce Inc. $CRM

Key Points

• Sanctuary Advisors LLC increased its Salesforce stake by 3.4% in the first quarter, buying 3,314 more shares and bringing its total position to 100,537 shares worth about $18.8 million.
• Salesforce reported strong quarterly results, posting EPS of $3.88 versus analyst expectations of $3.13, while revenue rose 13.3% year over year to $11.13 billion.
• Analyst sentiment remains mixed but generally positive: the stock has a consensus rating of “Moderate Buy” with an average target price of $254.42, though some firms recently trimmed ratings or price targets.

Sanctuary Advisors LLC raised its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,537 shares of the CRM provider's stock after buying an additional 3,314 shares during the quarter. Sanctuary Advisors LLC's holdings in Salesforce were worth $18,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Commonwealth Retirement Investments LLC purchased a new position in Salesforce during the 4th quarter valued at about $25,000. Board of the Pension Protection Fund bought a new position in shares of Salesforce during the fourth quarter valued at approximately $26,000. Key Capital Management INC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $26,000. Gilpin Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $26,000. Finally, Legacy Bridge LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM opened at $167.32 on Thursday. The firm has a fifty day simple moving average of $171.12 and a two-hundred day simple moving average of $191.99. The firm has a market cap of $137.03 billion, a PE ratio of 19.37, a P/E/G ratio of 0.90 and a beta of 1.18. 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 1-year low of $146.32 and a 1-year high of $274.00.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same period last year, the business posted $2.58 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. 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, equities analysts anticipate that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial lowered Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Macquarie Infrastructure cut their target price on Salesforce from $200.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday, May 28th. BTIG Research reaffirmed a "buy" rating and issued a $255.00 price target on shares of Salesforce in a research report on Tuesday, May 26th. Jefferies Financial Group upgraded shares of Salesforce from a "buy" rating to a "buy" rating in a research note on Wednesday, July 1st. Finally, The Goldman Sachs Group began coverage on shares of Salesforce in a research report on Thursday, June 18th. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $254.42.

Salesforce 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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