SteelPeak Wealth LLC Buys 15,340 Shares of Salesforce Inc. $CRM

Key Points

• SteelPeak Wealth LLC increased its Salesforce stake by 216.2% in the first quarter, buying 15,340 additional shares and lifting its total holdings to 22,436 shares valued at about $4.19 million.
• Salesforce reported better-than-expected quarterly results, with EPS of $3.88 versus $3.13 expected and revenue of $11.13 billion, up 13.3% year over year.
• Analyst sentiment remains mixed but broadly positive, with a consensus rating of Moderate Buy and an average price target of $254.42, even as a few firms downgraded the stock.

SteelPeak Wealth LLC boosted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 216.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,436 shares of the CRM provider's stock after buying an additional 15,340 shares during the period. SteelPeak Wealth LLC's holdings in Salesforce were worth $4,188,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CRM. Byrne Asset Management LLC increased its stake in shares of Salesforce by 1.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider's stock worth $1,147,000 after purchasing an additional 43 shares during the period. Fred Alger Management LLC lifted its holdings in Salesforce by 0.3% during the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider's stock worth $3,548,000 after purchasing an additional 45 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its stake in Salesforce by 1.5% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider's stock valued at $835,000 after purchasing an additional 46 shares during the period. Richards Merrill & Peterson Inc. grew its holdings in Salesforce by 1.1% in the 4th quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider's stock valued at $1,123,000 after buying an additional 46 shares in the last quarter. Finally, Wright Investors Service Inc. grew its holdings in Salesforce by 0.8% in the 4th quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider's stock valued at $1,639,000 after buying an additional 47 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $172.60 on Friday. The firm's fifty day moving average price is $170.85 and its two-hundred day moving average price is $191.34. The stock has a market cap of $141.36 billion, a PE ratio of 19.98, a PEG ratio of 0.90 and a beta of 1.18. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $274.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating 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 company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.05 billion. During the same period in the prior year, the company earned $2.58 EPS. Salesforce's revenue was up 13.3% compared to the same quarter last year. 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 expect that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce's dividend payout ratio (DPR) is currently 20.37%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRM shares. Scotiabank cut Salesforce from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, June 18th. Royal Bank Of Canada downgraded shares of Salesforce from a "sector perform" rating to a "sector perform" rating in a research note on Wednesday, July 1st. Citizens Jmp reaffirmed a "market outperform" rating and set a $315.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Roth Capital reiterated a "buy" rating and issued a $325.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Finally, BTIG Research reissued a "buy" rating and issued a $255.00 price objective on shares of Salesforce in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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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