Salesforce Inc. $CRM Shares Sold by Urban Wealth Management LLC

Urban Wealth Management LLC lessened its holdings in Salesforce Inc. (NYSE:CRM) by 82.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,192 shares of the CRM provider’s stock after selling 5,726 shares during the period. Urban Wealth Management LLC’s holdings in Salesforce were worth $223,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. J. Stern & Co. LLP raised its holdings in shares of Salesforce by 24,056.7% in the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after buying an additional 47,189,352 shares during the last quarter. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter valued at $3,182,951,000. Capital World Investors grew its holdings in shares of Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock valued at $4,106,255,000 after buying an additional 10,636,161 shares during the last quarter. Cardano Risk Management B.V. increased its position in shares of Salesforce by 924.7% in the 4th quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock valued at $1,028,807,000 after acquiring an additional 3,504,605 shares during the period. Finally, Capital International Investors raised its stake in Salesforce by 13.3% in the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after acquiring an additional 2,669,891 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Sanford C. Bernstein reduced their price target on shares of Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of Salesforce in a report on Thursday, June 4th. HSBC increased their price objective on shares of Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a report on Friday, May 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Salesforce in a research report on Thursday, May 28th. Finally, Wells Fargo & Company decreased their price target on shares of Salesforce from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.61.

Salesforce Trading Down 1.5%

NYSE CRM opened at $150.39 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $123.17 billion, a P/E ratio of 17.41, a PEG ratio of 0.95 and a beta of 1.16. The firm’s 50-day moving average is $175.95 and its two-hundred day moving average is $201.50. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $276.80.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’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, sell-side analysts anticipate that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. Salesforce’s dividend payout ratio (DPR) is presently 20.37%.

Salesforce announced that its board has authorized a share buyback program on Monday, March 16th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.