Diversify Advisory Services LLC Buys 2,618 Shares of Salesforce Inc. $CRM

Diversify Advisory Services LLC boosted its position in Salesforce Inc. (NYSE:CRM) by 21.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,642 shares of the CRM provider’s stock after purchasing an additional 2,618 shares during the quarter. Diversify Advisory Services LLC’s holdings in Salesforce were worth $3,826,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. ProVise Management Group LLC lifted its position in shares of Salesforce by 6.0% during the third quarter. ProVise Management Group LLC now owns 5,341 shares of the CRM provider’s stock valued at $1,266,000 after buying an additional 304 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Salesforce by 103.7% in the 3rd quarter. Jefferies Financial Group Inc. now owns 10,042 shares of the CRM provider’s stock worth $2,380,000 after buying an additional 5,111 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Salesforce by 2.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 36,080 shares of the CRM provider’s stock worth $8,551,000 after acquiring an additional 887 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Salesforce by 10.0% during the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 702,501 shares of the CRM provider’s stock worth $166,493,000 after acquiring an additional 63,641 shares in the last quarter. Finally, Rathbones Group PLC lifted its position in Salesforce by 15.3% during the third quarter. Rathbones Group PLC now owns 801,693 shares of the CRM provider’s stock valued at $190,001,000 after acquiring an additional 106,513 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CRM. Citigroup raised their target price on shares of Salesforce from $197.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Sanford C. Bernstein decreased their price objective on Salesforce from $223.00 to $194.00 and set an “underperform” rating for the company in a report on Thursday, February 26th. Barclays lowered their price objective on Salesforce from $265.00 to $252.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Arete Research upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Salesforce in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $283.14.

Salesforce Trading Down 1.6%

NYSE CRM opened at $198.81 on Tuesday. Salesforce Inc. has a 12-month low of $174.57 and a 12-month high of $296.05. The company has a fifty day simple moving average of $215.86 and a two-hundred day simple moving average of $236.46. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $183.50 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.47 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $11.18 billion. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.78 earnings per share. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. On average, analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th will be issued a $0.44 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 9th. Salesforce’s dividend payout ratio is currently 21.25%.

Insider Transactions at Salesforce

In related news, Director Neelie Kroes sold 3,893 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total value of $929,259.10. Following the sale, the director owned 7,299 shares in the company, valued at $1,742,271.30. This represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Blair Kirk purchased 1,936 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average price of $258.64 per share, for a total transaction of $500,727.04. Following the acquisition, the director owned 10,677 shares in the company, valued at $2,761,499.28. This trade represents a 22.15% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.00% of the stock is currently owned by corporate insiders.

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.