Continuum Advisory LLC Sells 18,703 Shares of Salesforce Inc. $CRM

Continuum Advisory LLC cut its position in Salesforce Inc. (NYSE:CRM) by 72.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,140 shares of the CRM provider’s stock after selling 18,703 shares during the period. Continuum Advisory LLC’s holdings in Salesforce were worth $1,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC bought a new stake in shares of Salesforce in the 4th quarter valued at $25,000. Board of the Pension Protection Fund acquired a new stake in Salesforce during the 4th quarter worth $26,000. Key Capital Management INC bought a new position in Salesforce during the fourth quarter worth about $26,000. Gilpin Wealth Management LLC bought a new position in Salesforce during the fourth quarter worth about $26,000. Finally, Legacy Bridge LLC acquired a new position in Salesforce in the fourth quarter valued at about $27,000. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wolfe Research restated an “outperform” rating on shares of Salesforce in a report on Monday, June 15th. Sanford C. Bernstein cut their price objective on Salesforce from $194.00 to $173.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. HSBC boosted their price objective on Salesforce from $350.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Daiwa Securities Group lowered their target price on Salesforce from $295.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $225.00 target price on shares of Salesforce in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $255.14.

Salesforce Stock Performance

Shares of NYSE CRM opened at $158.12 on Tuesday. 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 stock has a 50 day moving average price of $175.09 and a 200 day moving average price of $200.07. The stock has a market capitalization of $129.50 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 0.99 and a beta of 1.16. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $276.80.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share 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 firm had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the previous year, the firm earned $2.58 EPS. The business’s quarterly 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. Analysts predict that Salesforce Inc. will post 10.29 earnings per share for the current fiscal year.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, June 11th. Salesforce’s payout ratio is presently 20.37%.

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.