Angeles Wealth Management LLC raised its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 40.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,510 shares of the CRM provider’s stock after buying an additional 2,180 shares during the quarter. Angeles Wealth Management LLC’s holdings in Salesforce were worth $1,179,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fred Alger Management LLC raised its stake in shares of Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock valued at $3,548,000 after acquiring an additional 45 shares during the period. Synergy Financial Group LTD lifted its stake in Salesforce by 2.4% during the third quarter. Synergy Financial Group LTD now owns 2,035 shares of the CRM provider’s stock worth $482,000 after purchasing an additional 48 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 35.4% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 199 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 52 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of Salesforce by 0.7% during the fourth quarter. Krane Funds Advisors LLC now owns 8,254 shares of the CRM provider’s stock worth $2,187,000 after buying an additional 57 shares during the period. Finally, HBW Advisory Services LLC grew its stake in shares of Salesforce by 0.4% in the first quarter. HBW Advisory Services LLC now owns 13,098 shares of the CRM provider’s stock valued at $2,445,000 after buying an additional 57 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Key Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:AI growth is becoming material: Agentforce and Data 360 annual recurring revenue reached nearly $3.9 billion, up more than 210% year over year. Agentforce ARR exceeded $1.5 billion and grew more than 240%, supporting the view that Salesforce is successfully monetizing artificial intelligence. Salesforce Grew Agentforce and Data 360 ARR More Than 200%
- Positive Sentiment:Analyst support remains strong: Cantor Fitzgerald raised its Salesforce price target to $300, while BTIG reaffirmed its “Buy” rating and said it is increasingly confident in improving business trends. Cantor Fitzgerald Raises Salesforce Price Target
- Positive Sentiment:Shareholder returns: Salesforce declared a quarterly cash dividend of $0.44 per share, payable October 8 to shareholders of record September 17. The dividend provides a modest income component and signals continued confidence in cash generation. Salesforce Announces Quarterly Dividend
Insider Activity
- Salesforce Looks Overbought, But the Rally May Be Far From Over
In other news, Director Craig Conway sold 4,500 shares of Salesforce stock in a transaction on Friday, September 4th. The shares were sold at an average price of $260.61, for a total value of $1,172,745.00. Following the transaction, the director directly owned 5,437 shares of the company’s stock, valued at $1,416,936.57. The trade was a 45.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.50% of the company’s stock.
Salesforce Trading Down 1.9%
NYSE CRM opened at $259.39 on Friday. The firm’s fifty day moving average price is $191.88 and its 200 day moving average price is $185.00. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $213.48 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20.
Ad Behind the Markets
Earth’s biggest energy source: near Grand Canyon
The largest energy source on Earth contains 50,000 times every oil and gas reserve on the planet combined – and much of it sits beneath the desert near the Grand Canyon.nnA drilling crew just hit the DOE’s 2035 targets twelve years early, with costs down 50% in 18 months. Google signed on, Gates invested, and the Pentagon made it a priority. One company has been quietly building this infrastructure for sixty years.
See the company sitting on the biggest energy source on Earth
