FNY Investment Advisers LLC Purchases 4,920 Shares of Salesforce Inc. $CRM

FNY Investment Advisers LLC increased its position in Salesforce Inc. (NYSE:CRMFree Report) by 319.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,460 shares of the CRM provider’s stock after acquiring an additional 4,920 shares during the period. FNY Investment Advisers LLC’s holdings in Salesforce were worth $1,711,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aspire Growth Partners LLC raised its stake in shares of Salesforce by 1.2% in the third quarter. Aspire Growth Partners LLC now owns 3,355 shares of the CRM provider’s stock worth $795,000 after purchasing an additional 39 shares during the last quarter. Abacus Planning Group Inc. boosted its position in shares of Salesforce by 3.1% during the third quarter. Abacus Planning Group Inc. now owns 1,420 shares of the CRM provider’s stock valued at $337,000 after buying an additional 43 shares during the last quarter. Byrne Asset Management LLC boosted its position in shares of Salesforce by 1.0% during the fourth quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider’s stock valued at $1,147,000 after buying an additional 43 shares during the last quarter. Code Waechter LLC increased its holdings in Salesforce by 5.3% in the 3rd quarter. Code Waechter LLC now owns 871 shares of the CRM provider’s stock worth $209,000 after buying an additional 44 shares in the last quarter. Finally, Capital A Wealth Management LLC raised its position in Salesforce by 40.9% in the 2nd quarter. Capital A Wealth Management LLC now owns 155 shares of the CRM provider’s stock worth $41,000 after buying an additional 45 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. UBS Group lowered their target price on shares of Salesforce from $260.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Salesforce in a report on Monday, December 29th. Wedbush restated an “outperform” rating and set a $375.00 price objective on shares of Salesforce in a research report on Tuesday, February 24th. Wolfe Research restated an “outperform” rating on shares of Salesforce in a report on Thursday, January 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Salesforce in a research report on Thursday, December 4th. 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 one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.21.

View Our Latest Research Report on CRM

Insider Transactions at Salesforce

In related news, Director David Blair Kirk bought 2,570 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average cost of $194.62 per share, with a total value of $500,173.40. Following the acquisition, the director owned 13,689 shares in the company, valued at $2,664,153.18. This trade represents a 23.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Alber bought 2,571 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the completion of the transaction, the director directly owned 9,530 shares of the company’s stock, valued at $1,854,347.40. This represents a 36.94% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.00% of the stock is currently owned by company insiders.

More Salesforce News

Here are the key news stories impacting Salesforce this week:

Salesforce Price Performance

Shares of NYSE:CRM opened at $187.01 on Friday. The firm’s 50 day moving average price is $195.37 and its 200-day moving average price is $229.22. Salesforce Inc. has a twelve month low of $174.57 and a twelve month high of $296.05. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $172.61 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The company had revenue of $11.20 billion during the quarter, compared to analyst estimates of $11.18 billion. During the same period in the previous year, the business posted $2.78 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 23rd. Stockholders of record on Thursday, April 9th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 9th. This is a positive change from Salesforce’s previous quarterly dividend of $0.42. Salesforce’s payout ratio is presently 21.25%.

Salesforce declared that its Board of Directors has authorized a stock repurchase plan on Monday, March 16th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the CRM provider to reacquire up to 14.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Salesforce Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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