Elevation Point Wealth Partners LLC Purchases 13,216 Shares of Salesforce Inc. $CRM

Elevation Point Wealth Partners LLC boosted its position in Salesforce Inc. (NYSE:CRM) by 109.5% in the first quarter, HoldingsChannel reports. The firm owned 25,285 shares of the CRM provider’s stock after buying an additional 13,216 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Salesforce were worth $4,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its holdings in Salesforce by 24,056.7% during the fourth quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after acquiring an additional 47,189,352 shares during the period. Norges Bank bought a new position in Salesforce in the 4th quarter valued at $3,182,951,000. Capital World Investors grew its stake in Salesforce by 159.0% in the 3rd quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock valued at $4,106,255,000 after purchasing an additional 10,636,161 shares during the period. Cardano Risk Management B.V. increased its position in shares of Salesforce by 924.7% during the 4th quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock valued at $1,028,807,000 after purchasing an additional 3,504,605 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Salesforce by 13.3% during the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after purchasing an additional 2,669,891 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Daiwa Securities Group cut their price target on shares of Salesforce from $295.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Northland Securities decreased their price objective on shares of Salesforce from $267.00 to $229.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Citigroup raised shares of Salesforce from a “market outperform” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Salesforce from $210.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 28th. Finally, UBS Group started coverage on shares of Salesforce in a research report on Wednesday. They set an “overweight” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.42.

Salesforce Price Performance

CRM opened at $165.94 on Friday. The firm has a 50-day moving average price of $173.23 and a 200-day moving average price of $197.71. Salesforce Inc. has a twelve month low of $146.32 and a twelve month 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 company has a market capitalization of $135.90 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.03 and a beta of 1.18.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The company 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%. Salesforce’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior 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. Equities analysts expect that Salesforce Inc. will post 10.29 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.1%. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.

Salesforce declared that its board has approved a share repurchase plan on Monday, March 16th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.