Salesforce Inc. $CRM Shares Newly Bought by Kercheville Advisors LLC

Kercheville Advisors LLC purchased a new stake in shares of Salesforce Inc. (NYSE:CRM) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,400 shares of the CRM provider’s stock, valued at approximately $1,469,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Salesforce in the 2nd quarter valued at $11,396,844,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Salesforce by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after purchasing an additional 7,160,302 shares during the period. Bank of America Corp DE bought a new position in shares of Salesforce in the second quarter worth $1,914,086,000. Legal & General Group Plc purchased a new stake in shares of Salesforce in the second quarter worth $927,332,000. Finally, Bank of New York Mellon Corp bought a new stake in Salesforce during the second quarter valued at $844,928,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citizens Jmp restated a “market outperform” rating and issued a $315.00 target price on shares of Salesforce in a research note on Friday, September 18th. CLSA started coverage on Salesforce in a report on Monday, July 20th. They set a “hold” rating and a $165.00 price objective for the company. Needham & Company LLC restated a “buy” rating on shares of Salesforce in a research report on Thursday, September 17th. Weiss Ratings raised shares of Salesforce from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Salesforce in a research report on Monday, September 21st. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $278.40.

Insider Activity

In related news, Director Craig Conway sold 4,500 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Blair Kirk acquired 4,176 shares of the stock in a transaction on Friday, September 18th. The stock was bought at an average price of $239.33 per share, with a total value of $999,442.08. Following the completion of the acquisition, the director directly owned 18,748 shares of the company’s stock, valued at $4,486,958.84. This trade represents a 28.66% 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.

Salesforce Trading Up 0.9%

Shares of Salesforce stock traded up $2.07 during midday trading on Monday, reaching $242.77. 7,038,715 shares of the company’s stock traded hands, compared to its average volume of 13,517,932. The stock has a 50 day moving average of $232.38 and a 200-day moving average of $195.29. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a market cap of $199.80 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.26. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce’s payout ratio is presently 16.04%.

About Salesforce

Salesforce, Inc (NYSE: CRM) is a global enterprise software company that provides cloud-based customer relationship management (CRM) technology. Its platform helps organizations manage sales, customer service, marketing, commerce, data, analytics and interactions with customers across digital and traditional channels.

The company’s products include Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud and Data Cloud. Salesforce also offers Tableau for data visualization and analytics, MuleSoft for application integration, and Slack for workplace collaboration.