Element Pointe Advisors LLC Takes $672,000 Position in Salesforce Inc. $CRM

Element Pointe Advisors LLC bought a new position in shares of Salesforce Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,287 shares of the CRM provider’s stock, valued at approximately $672,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Temasek Holdings Private Ltd lifted its holdings in Salesforce by 3.7% in the 4th quarter. Temasek Holdings Private Ltd now owns 683,790 shares of the CRM provider’s stock valued at $181,143,000 after purchasing an additional 24,332 shares in the last quarter. SFE Investment Counsel raised its position in shares of Salesforce by 82.7% in the fourth quarter. SFE Investment Counsel now owns 17,394 shares of the CRM provider’s stock valued at $4,608,000 after buying an additional 7,871 shares during the last quarter. Fluent Financial LLC acquired a new stake in shares of Salesforce in the second quarter valued at about $2,265,000. Secured Retirement Advisors LLC purchased a new position in shares of Salesforce in the first quarter worth about $1,004,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Salesforce by 2.5% in the first quarter. Janus Henderson Group PLC now owns 127,739 shares of the CRM provider’s stock worth $23,846,000 after buying an additional 3,125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CRM. Wedbush began coverage on shares of Salesforce in a report on Wednesday, July 1st. They issued an “outperform” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Salesforce in a report on Thursday, May 28th. Weiss Ratings upgraded Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Phillip Securities cut Salesforce from a “buy” rating to a “hold” rating and cut their price target for the company from $253.00 to $166.00 in a report on Monday, June 29th. Finally, Barclays upgraded Salesforce from an “overweight” rating to an “overweight” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.49.

Salesforce Price Performance

Salesforce stock opened at $196.28 on Wednesday. The company’s 50 day simple moving average is $172.00 and its 200-day simple moving average is $181.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a 1 year low of $146.32 and a 1 year high of $269.11. The company has a market capitalization of $160.76 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.16.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $0.75. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. As a group, equities research analysts expect that Salesforce Inc. will post 10.27 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Salesforce’s payout ratio is presently 20.37%.

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.