Cardano Risk Management B.V. Sells 3,487,604 Shares of Salesforce Inc. $CRM

Cardano Risk Management B.V. decreased its stake in Salesforce Inc. (NYSE:CRM) by 89.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 396,006 shares of the CRM provider’s stock after selling 3,487,604 shares during the period. Cardano Risk Management B.V.’s holdings in Salesforce were worth $73,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Norway Savings Bank grew its stake in shares of Salesforce by 1.5% during the 1st quarter. Norway Savings Bank now owns 11,986 shares of the CRM provider’s stock valued at $2,237,000 after acquiring an additional 182 shares during the period. Arta Finance Wealth Management LLC raised its stake in Salesforce by 31.2% during the 1st quarter. Arta Finance Wealth Management LLC now owns 6,968 shares of the CRM provider’s stock worth $1,301,000 after acquiring an additional 1,656 shares during the period. Ritholtz Wealth Management raised its stake in Salesforce by 13.5% during the 1st quarter. Ritholtz Wealth Management now owns 16,294 shares of the CRM provider’s stock worth $3,042,000 after acquiring an additional 1,939 shares during the period. Breakwater Capital Group lifted its holdings in Salesforce by 82.4% during the first quarter. Breakwater Capital Group now owns 3,455 shares of the CRM provider’s stock valued at $645,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Brian Low Financial Group LLC lifted its holdings in Salesforce by 261.7% during the first quarter. Brian Low Financial Group LLC now owns 4,727 shares of the CRM provider’s stock valued at $882,000 after purchasing an additional 3,420 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $152.45 on Thursday. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $276.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average is $176.37 and its 200 day moving average is $202.28. The company has a market cap of $124.86 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.96 and a beta of 1.16.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS 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 return on equity of 18.72% and a net margin of 18.73%.The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Sell-side analysts forecast that Salesforce Inc. will post 10.29 EPS for the current fiscal year.

Salesforce declared that its Board of Directors has approved a share buyback program on Monday, March 16th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the CRM provider to repurchase up to 14.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $225.00 price objective on shares of Salesforce in a research note on Tuesday, June 16th. Truist Financial set a $280.00 target price on shares of Salesforce in a research note on Thursday, February 26th. The Goldman Sachs Group assumed coverage on shares of Salesforce in a report on Thursday, June 18th. They issued a “neutral” rating for the company. Royal Bank Of Canada reiterated a “neutral” rating on shares of Salesforce in a research note on Thursday, June 4th. Finally, BMO Capital Markets decreased their price target on Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.61.

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.