Salesforce Inc. $CRM Shares Bought by Summitry LLC

Summitry LLC boosted its position in shares of Salesforce Inc. (NYSE:CRM) by 3.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 214,663 shares of the CRM provider’s stock after acquiring an additional 7,843 shares during the quarter. Salesforce comprises 2.4% of Summitry LLC’s holdings, making the stock its 16th biggest position. Summitry LLC’s holdings in Salesforce were worth $56,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Salesforce by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after buying an additional 270,913 shares during the period. State Street Corp increased its position in Salesforce by 0.3% during the third quarter. State Street Corp now owns 49,420,657 shares of the CRM provider’s stock worth $11,732,966,000 after buying an additional 159,739 shares during the period. Capital International Investors increased its position in Salesforce by 9.4% during the third quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock worth $4,753,519,000 after buying an additional 1,729,440 shares during the period. Capital World Investors increased its position in Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock worth $4,106,255,000 after buying an additional 10,636,161 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Salesforce by 11.8% in the third quarter. Invesco Ltd. now owns 7,155,512 shares of the CRM provider’s stock valued at $1,695,856,000 after purchasing an additional 754,116 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.1%

Salesforce stock opened at $180.32 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.76. Salesforce Inc. has a 1-year low of $163.52 and a 1-year high of $280.74. The company has a market cap of $147.54 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.25 and a beta of 1.14. The stock’s 50 day moving average price is $181.89 and its 200 day moving average price is $212.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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. 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 the consensus estimate of $11.18 billion. During the same period in the previous year, the business earned $2.78 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. 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, sell-side analysts predict that Salesforce Inc. will post 9.71 EPS for the current fiscal year.

Salesforce announced that its board has approved 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 an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Thursday, February 26th. BTIG Research reissued a “buy” rating and issued a $255.00 target price on shares of Salesforce in a report on Friday, April 17th. UBS Group dropped their target price on Salesforce from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their target price on Salesforce from $235.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Finally, Truist Financial set a $280.00 target price on Salesforce in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $274.12.

Insider Buying and Selling

In other Salesforce news, Director David Blair Kirk purchased 2,570 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $194.62 per share, for a total transaction of $500,173.40. Following the completion of the purchase, the director directly owned 13,689 shares in the company, valued at $2,664,153.18. This represents a 23.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Alber purchased 2,571 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the completion of the purchase, the director owned 9,530 shares of the company’s stock, valued at approximately $1,854,347.40. This represents a 36.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.50% of the stock is owned by insiders.

About Salesforce

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.