Udine Wealth Management Inc. Buys New Stake in Salesforce Inc. $CRM

Udine Wealth Management Inc. purchased a new position in Salesforce Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The firm purchased 10,042 shares of the CRM provider’s stock, valued at approximately $2,660,000. Salesforce accounts for approximately 1.3% of Udine Wealth Management Inc.’s holdings, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Brighton Jones LLC raised its holdings in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after buying an additional 205 shares in the last quarter. Bison Wealth LLC grew its position in Salesforce by 9.0% in the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock valued at $747,000 after acquiring an additional 184 shares during the period. Sivia Capital Partners LLC grew its position in Salesforce by 3.7% in the second quarter. Sivia Capital Partners LLC now owns 2,958 shares of the CRM provider’s stock valued at $807,000 after acquiring an additional 106 shares during the period. Finally, United Bank raised its stake in Salesforce by 5.2% during the second quarter. United Bank now owns 10,198 shares of the CRM provider’s stock worth $2,781,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Mizuho reduced their target price on shares of Salesforce from $280.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Salesforce in a research report on Thursday, February 26th. BTIG Research reissued a “buy” rating and set a $255.00 price target on shares of Salesforce in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Salesforce from $235.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Guggenheim reissued a “neutral” rating on shares of Salesforce in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.21.

Insider Buying and Selling at Salesforce

In other news, Director Neelie Kroes sold 3,893 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $238.70, for a total value of $929,259.10. Following the transaction, the director owned 7,299 shares of the company’s stock, valued at $1,742,271.30. This represents a 34.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura Alber acquired 2,571 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $194.58 per share, with a total value of $500,265.18. Following the acquisition, the director directly owned 9,530 shares of the company’s stock, valued at $1,854,347.40. The trade was a 36.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.00% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $187.01 on Friday. The firm has a market cap of $172.61 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.36 and a beta of 1.29. Salesforce Inc. has a 12 month low of $174.57 and a 12 month high of $296.05. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $195.37 and a 200 day moving average price of $229.22.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 25th. The CRM provider reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $11.18 billion. During the same period in the prior year, the company posted $2.78 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. Research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. This is a boost from Salesforce’s previous quarterly dividend of $0.42. Salesforce’s dividend payout ratio (DPR) is presently 21.25%.

Salesforce announced that its board has authorized a stock buyback program on Monday, March 16th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the CRM provider to repurchase up to 14.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.