27,430 Shares in Salesforce Inc. $CRM Bought by Regal Partners Ltd

Regal Partners Ltd bought a new stake in shares of Salesforce Inc. (NYSE:CRMFree Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,430 shares of the CRM provider’s stock, valued at approximately $6,501,000.

Several other hedge funds also recently added to or reduced their stakes in CRM. Marquette Asset Management LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at about $26,000. Evolution Wealth Management Inc. purchased a new stake in shares of Salesforce in the second quarter worth about $27,000. Country Trust Bank grew its holdings in Salesforce by 658.8% during the second quarter. Country Trust Bank now owns 129 shares of the CRM provider’s stock worth $35,000 after acquiring an additional 112 shares during the period. Decker Retirement Planning Inc. raised its position in Salesforce by 284.6% during the second quarter. Decker Retirement Planning Inc. now owns 150 shares of the CRM provider’s stock valued at $41,000 after acquiring an additional 111 shares in the last quarter. Finally, Capital A Wealth Management LLC raised its position in Salesforce by 40.9% during the second quarter. Capital A Wealth Management LLC now owns 155 shares of the CRM provider’s stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BTIG Research lowered their price objective on Salesforce from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Stifel Nicolaus cut their target price on shares of Salesforce from $300.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Arete Research upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, December 11th. Sanford C. Bernstein lowered their price target on shares of Salesforce from $223.00 to $194.00 and set an “underperform” rating on the stock in a report on Thursday, February 26th. Finally, Robert W. Baird dropped their price target on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, December 4th. One investment 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 issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $283.14.

Read Our Latest Report on CRM

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Insider Activity

In other news, Director Neelie Kroes sold 3,893 shares of Salesforce stock in a transaction dated Wednesday, January 14th. The shares were 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 trade represents a 34.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Blair Kirk bought 1,936 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were bought at an average cost of $258.64 per share, with a total value of $500,727.04. Following the purchase, the director directly owned 10,677 shares of the company’s stock, valued at approximately $2,761,499.28. This represents a 22.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.00% of the stock is owned by company insiders.

Salesforce Stock Up 0.3%

Salesforce stock opened at $202.04 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.98. The stock has a market capitalization of $186.48 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.47 and a beta of 1.29. The business has a 50 day simple moving average of $217.21 and a 200-day simple moving average of $236.86. Salesforce Inc. has a 12 month low of $174.57 and a 12 month high of $296.05.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. Salesforce had a return on equity of 15.38% and a net margin of 17.96%.The firm had revenue of $11.20 billion for the quarter, compared to analyst estimates of $11.18 billion. During the same quarter last year, the firm posted $2.78 EPS. The business’s revenue was up 12.1% on a year-over-year basis. 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 anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, April 9th. This is a positive change from Salesforce’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.9%. Salesforce’s payout ratio is 21.25%.

Salesforce Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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