Chemistry Wealth Management LLC Purchases 5,063 Shares of Salesforce Inc. $CRM

Chemistry Wealth Management LLC raised its position in Salesforce Inc. (NYSE:CRM) by 62.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,155 shares of the CRM provider’s stock after buying an additional 5,063 shares during the period. Chemistry Wealth Management LLC’s holdings in Salesforce were worth $2,061,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Commonwealth Retirement Investments LLC purchased a new position in shares of Salesforce in the 4th quarter worth about $25,000. Key Capital Management INC purchased a new stake in Salesforce in the fourth quarter worth $26,000. Gilpin Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth about $26,000. Legacy Bridge LLC purchased a new position in shares of Salesforce in the fourth quarter worth about $27,000. Finally, Costello Asset Management INC boosted its holdings in Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after buying an additional 119 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of Salesforce stock opened at $192.48 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50 day simple moving average is $171.23 and its two-hundred day simple moving average is $183.26. The stock has a market capitalization of $157.64 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion for 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 business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Analysts forecast that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. Phillip Securities downgraded Salesforce from a “buy” rating to a “hold” rating and dropped their target price for the stock from $253.00 to $166.00 in a research report on Monday, June 29th. Scotiabank cut shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, June 18th. KeyCorp cut Salesforce from an “overweight” rating to a “sector weight” rating in a report on Wednesday, July 8th. BMO Capital Markets cut their price target on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Finally, Macquarie Infrastructure dropped their price target on Salesforce from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.51.

Salesforce 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.