SteelPeak Wealth LLC Has $4.19 Million Stock Position in Salesforce Inc. $CRM

SteelPeak Wealth LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM) by 216.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,436 shares of the CRM provider’s stock after acquiring an additional 15,340 shares during the period. SteelPeak Wealth LLC’s holdings in Salesforce were worth $4,188,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Commonwealth Retirement Investments LLC acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new position in Salesforce during the 4th quarter worth about $26,000. Key Capital Management INC acquired a new position in Salesforce during the 4th quarter worth about $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $26,000. Finally, Legacy Bridge LLC bought a new stake in shares of Salesforce in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $172.60 on Friday. The firm’s 50-day moving average price is $170.85 and its 200-day moving average price is $191.34. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $274.00. The firm has a market capitalization of $141.36 billion, a P/E ratio of 19.98, a P/E/G ratio of 0.90 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.15.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, June 11th were issued 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 is presently 20.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRM. Sanford C. Bernstein lowered their price objective on Salesforce from $194.00 to $173.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. Phillip Securities cut Salesforce from a “buy” rating to a “hold” rating and reduced their target price for the company from $253.00 to $166.00 in a report on Monday, June 29th. Weiss Ratings raised shares of Salesforce from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 7th. Bank of America began coverage on shares of Salesforce in a report on Monday, May 18th. They set an “underperform” rating and a $160.00 price target for the company. Finally, Monness Crespi & Hardt upgraded shares of Salesforce from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $254.42.

Salesforce 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.