Bull Harbor Capital LLC Makes New $814,000 Investment in Salesforce Inc. $CRM

Bull Harbor Capital LLC purchased a new position in Salesforce Inc. (NYSE:CRM) in the first quarter, HoldingsChannel reports. The firm purchased 4,361 shares of the CRM provider’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Vanguard Group Inc. boosted its stake in shares of Salesforce by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 89,843,166 shares of the CRM provider’s stock worth $23,800,353,000 after acquiring an additional 270,913 shares during the period. State Street Corp raised its stake in Salesforce by 1.3% during the 4th quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock valued at $13,286,909,000 after purchasing an additional 659,573 shares during the period. J. Stern & Co. LLP raised its stake in Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares during the period. Capital International Investors lifted its holdings in Salesforce by 13.3% in the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock worth $6,019,199,000 after purchasing an additional 2,669,891 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 21,782,556 shares of the CRM provider’s stock worth $5,751,073,000 after purchasing an additional 791,345 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 3.9%

CRM stock opened at $180.95 on Friday. The firm has a fifty day moving average price of $170.26 and a 200 day moving average price of $185.02. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $269.11. The firm has a market cap of $148.20 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. Salesforce had a net margin of 18.73% and a return on equity of 18.72%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.05 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Salesforce’s revenue was up 13.3% on a year-over-year basis. 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 anticipate that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 1.0%. Salesforce’s dividend payout ratio (DPR) is currently 20.37%.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Salesforce from a “buy” rating to a “buy” rating in a research report on Wednesday, July 1st. UBS Group restated an “equal weight” rating on shares of Salesforce in a research report on Tuesday, July 21st. Roth Capital reiterated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Thursday, May 28th. Weiss Ratings cut shares of Salesforce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 24th. Finally, BMO Capital Markets dropped their price objective on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.51.

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.