Cardano Risk Management B.V. Sells 3,487,604 Shares of Salesforce Inc. $CRM

Cardano Risk Management B.V. decreased its position in shares of Salesforce Inc. (NYSE:CRM) by 89.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 396,006 shares of the CRM provider’s stock after selling 3,487,604 shares during the quarter. Cardano Risk Management B.V.’s holdings in Salesforce were worth $73,922,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norway Savings Bank boosted its stake in Salesforce by 1.5% during the 1st quarter. Norway Savings Bank now owns 11,986 shares of the CRM provider’s stock valued at $2,237,000 after purchasing an additional 182 shares during the last quarter. Arta Finance Wealth Management LLC raised its stake in shares of Salesforce by 31.2% in the first quarter. Arta Finance Wealth Management LLC now owns 6,968 shares of the CRM provider’s stock worth $1,301,000 after purchasing an additional 1,656 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Salesforce by 13.5% in the first quarter. Ritholtz Wealth Management now owns 16,294 shares of the CRM provider’s stock worth $3,042,000 after purchasing an additional 1,939 shares during the last quarter. Breakwater Capital Group lifted its holdings in shares of Salesforce by 82.4% during the first quarter. Breakwater Capital Group now owns 3,455 shares of the CRM provider’s stock valued at $645,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Brian Low Financial Group LLC lifted its holdings in shares of Salesforce by 261.7% during the first quarter. Brian Low Financial Group LLC now owns 4,727 shares of the CRM provider’s stock valued at $882,000 after purchasing an additional 3,420 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Down 0.6%

CRM stock opened at $152.45 on Thursday. Salesforce Inc. has a fifty-two week low of $146.32 and a fifty-two week high of $276.80. The business’s 50-day moving average is $176.37 and its two-hundred day moving average is $202.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $124.86 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 0.96 and a beta of 1.16.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.75. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same period last year, the firm posted $2.58 earnings per share. The business’s revenue for the quarter 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. As a group, analysts forecast that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce announced that its Board of Directors has initiated a share repurchase plan on Monday, March 16th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the CRM provider to reacquire up to 14.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, June 11th. Salesforce’s payout ratio is 20.37%.

Analyst Ratings Changes

Several research firms recently commented on CRM. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Salesforce in a report on Thursday, May 28th. Wells Fargo & Company lowered 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. Stifel Nicolaus dropped their price target on shares of Salesforce from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Scotiabank lowered shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, June 18th. Finally, B. Riley Financial boosted their price objective on shares of Salesforce from $205.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $257.61.

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.