Gen Wealth Partners Inc Buys 2,438 Shares of Salesforce Inc. $CRM

Gen Wealth Partners Inc lifted its stake in shares of Salesforce Inc. (NYSE:CRM) by 33.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,752 shares of the CRM provider’s stock after purchasing an additional 2,438 shares during the period. Gen Wealth Partners Inc’s holdings in Salesforce were worth $2,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Cpwa LLC acquired a new position in Salesforce in the 3rd quarter valued at $216,000. 71 West Capital Partners raised its position in shares of Salesforce by 8.1% in the third quarter. 71 West Capital Partners now owns 41,983 shares of the CRM provider’s stock valued at $9,638,000 after buying an additional 3,155 shares during the last quarter. Nemes Rush Group LLC raised its position in shares of Salesforce by 1.3% in the third quarter. Nemes Rush Group LLC now owns 51,988 shares of the CRM provider’s stock valued at $11,935,000 after buying an additional 655 shares during the last quarter. Pinion Investment Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $266,000. Finally, Texas Bank & Trust Co lifted its stake in shares of Salesforce by 13.2% in the third quarter. Texas Bank & Trust Co now owns 7,192 shares of the CRM provider’s stock worth $1,651,000 after buying an additional 837 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, Director Craig Conway sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the sale, the director directly owned 5,437 shares of the company’s stock, valued at $1,416,936.57. This represents a 45.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Blair Kirk bought 4,176 shares of Salesforce stock in a transaction on Friday, September 18th. The shares were acquired at an average price of $239.33 per share, for a total transaction of $999,442.08. Following the completion of the acquisition, the director owned 18,748 shares in the company, valued at $4,486,958.84. This represents a 28.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.5%

NYSE CRM opened at $214.62 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $176.63 billion, a P/E ratio of 19.56, a PEG ratio of 1.03 and a beta of 1.24. The firm’s 50-day moving average is $238.69 and its two-hundred day moving average is $198.60. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The company had revenue of $11.35 billion for the quarter, compared to analyst estimates of $11.33 billion. During the same quarter in the previous year, the company earned $2.91 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. On average, sell-side analysts anticipate that Salesforce Inc. will post 12.82 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, September 17th. Salesforce’s dividend payout ratio is currently 16.04%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Salesforce from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. Yorkville Ives initiated coverage on Salesforce in a research report on Monday, October 5th. They issued an “outperform” rating and a $290.00 price target for the company. Argus increased their price target on Salesforce from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, August 31st. Oppenheimer reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday, September 17th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Salesforce in a research note on Thursday, August 27th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.98.

Salesforce Company Profile

Salesforce, Inc is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce.

The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.

Founded in 1999 by Marc Benioff and other co-founders, Salesforce is headquartered in San Francisco.