Salesforce Inc. $CRM Stock: Fulcrum Asset Management LLP Increases Position

Fulcrum Asset Management LLP raised its holdings in shares of Salesforce Inc. (NYSE:CRM) by 2,894.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,121 shares of the CRM provider’s stock after purchasing an additional 22,349 shares during the period. Fulcrum Asset Management LLP’s holdings in Salesforce were worth $5,209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Allspring Global Investments Holdings LLC lifted its holdings in Salesforce by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 477,904 shares of the CRM provider’s stock worth $113,115,000 after buying an additional 3,093 shares during the period. StoneRidge PMG Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $1,927,000. Almanack Investment Partners LLC. purchased a new stake in Salesforce in the third quarter worth $266,000. Brighton Jones LLC grew its position in shares of Salesforce by 35.6% in the 3rd quarter. Brighton Jones LLC now owns 43,215 shares of the CRM provider’s stock worth $9,921,000 after buying an additional 11,351 shares during the period. Finally, Candriam S.C.A. grew its position in shares of Salesforce by 53.3% in the 3rd quarter. Candriam S.C.A. now owns 765,663 shares of the CRM provider’s stock worth $176,415,000 after buying an additional 266,304 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRM shares. Truist Financial reiterated a “buy” rating and issued a $300.00 price target (up from $280.00) on shares of Salesforce in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft started coverage on Salesforce in a research report on Monday, October 12th. They issued a “buy” rating on the stock. Bank of America raised Salesforce from an “underperform” rating to a “buy” rating and increased their target price for the stock from $160.00 to $285.00 in a research note on Monday, October 12th. Citigroup restated a “market outperform” rating on shares of Salesforce in a report on Tuesday, October 20th. Finally, BMO Capital Markets lifted their price target on Salesforce from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, September 17th. Four analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $278.98.

Salesforce Price Performance

Shares of NYSE:CRM opened at $214.62 on Tuesday. The company has a market capitalization of $176.63 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.03 and a beta of 1.24. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11. The firm’s 50 day simple moving average is $238.69 and its two-hundred day simple moving average is $198.60. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84.

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

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, September 17th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Salesforce’s dividend payout ratio (DPR) is currently 16.04%.

Insider Activity at Salesforce

In other Salesforce news, Director David Blair Kirk purchased 4,176 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were bought at an average cost of $239.33 per share, with a total value of $999,442.08. Following the acquisition, the director owned 18,748 shares in the company, valued at approximately $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Conway sold 4,500 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the completion of the transaction, the director directly owned 5,437 shares in the company, valued at $1,416,936.57. This trade represents a 45.29% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by company insiders.

Salesforce Company Profile

Salesforce, Inc is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce.

The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce’s products are used by organizations across a range of industries and are available to customers around the world.

Founded in 1999 by Marc Benioff and other co-founders, Salesforce is headquartered in San Francisco.