Wealthfront Advisers LLC Makes New $14.20 Million Investment in Salesforce Inc. $CRM

Wealthfront Advisers LLC purchased a new stake in Salesforce Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 90,625 shares of the CRM provider’s stock, valued at approximately $14,197,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $25,000. Gilpin Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth approximately $26,000. Persistent Asset Partners Ltd acquired a new position in Salesforce during the second quarter worth approximately $27,000. Costello Asset Management INC raised its stake in Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock valued at $28,000 after buying an additional 119 shares during the period. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $28,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 2.8%

Shares of CRM opened at $196.28 on Wednesday. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The firm’s 50 day moving average is $172.00 and its 200-day moving average is $181.47. The stock has a market capitalization of $160.76 billion, a PE ratio of 22.72, a P/E/G ratio of 1.06 and a beta of 1.16. 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 (NYSE:CRM) last released its quarterly 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 during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities research analysts forecast that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce’s payout ratio is currently 20.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRM. Guggenheim raised Salesforce from a “neutral” rating to a “buy” rating and set a $228.00 target price on the stock in a report on Wednesday, July 1st. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a report on Tuesday, July 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Salesforce in a research report on Thursday, May 28th. The Goldman Sachs Group started coverage on shares of Salesforce in a report on Thursday, June 18th. They issued a “neutral” rating on the stock. Finally, Piper Sandler lowered shares of Salesforce from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.49.

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.