Three Bridge Wealth Advisors LLC Buys Shares of 1,178 Salesforce Inc. $CRM

Key Points

• Three Bridge Wealth Advisors LLC purchased 1,178 shares of Salesforce Inc. for approximately $321,000 during the second quarter.
• Salesforce reported a 9.8% year-over-year revenue growth with quarterly earnings of $2.91 EPS, surpassing analyst estimates by $0.13.
• The company recently declared a quarterly dividend of $0.416, translating to an annual yield of 0.7%, set for payment on October 9th.

Three Bridge Wealth Advisors LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,178 shares of the CRM provider's stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Salesforce in the first quarter valued at $2,039,196,000. Longview Partners Guernsey LTD purchased a new stake in shares of Salesforce in the first quarter valued at $467,944,000. Pacer Advisors Inc. lifted its holdings in shares of Salesforce by 1,744.0% in the first quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock valued at $488,486,000 after purchasing an additional 1,721,550 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Salesforce by 1.6% in the first quarter. Vanguard Group Inc. now owns 87,913,628 shares of the CRM provider's stock valued at $23,592,501,000 after purchasing an additional 1,383,942 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in shares of Salesforce in the first quarter valued at $345,100,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 0.6%

Shares of CRM opened at $240.25 on Friday. The company has a 50-day simple moving average of $246.66 and a 200-day simple moving average of $260.19. The firm has a market capitalization of $228.72 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.12 and a current ratio of 1.12. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.13. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.56 earnings per share. Salesforce has set its FY 2026 guidance at 11.330-11.370 EPS. Q3 2026 guidance at 2.840-2.860 EPS. On average, equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 17th will be given a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 17th. Salesforce's dividend payout ratio is 24.13%.

Insider Activity

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $265.77, for a total transaction of $597,982.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,165,738,224.67. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Blair Kirk acquired 3,400 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the acquisition, the director owned 3,824 shares of the company's stock, valued at approximately $973,819.84. This represents a 801.89% increase in their position. The disclosure for this purchase can be found here. Insiders sold 81,000 shares of company stock valued at $20,357,213 in the last three months. Company insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Salesforce from $400.00 to $340.00 and set a "buy" rating on the stock in a report on Thursday, September 4th. Morgan Stanley boosted their price target on shares of Salesforce from $404.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. BMO Capital Markets lowered their price target on shares of Salesforce from $335.00 to $280.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. JMP Securities restated a "market outperform" rating and set a $430.00 price target on shares of Salesforce in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada lowered their price target on shares of Salesforce from $275.00 to $250.00 and set a "sector perform" rating on the stock in a report on Thursday, September 4th. Twenty-six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average price target of $332.58.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

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