L2 Asset Management LLC purchased a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,524 shares of the CRM provider’s stock, valued at approximately $709,000.
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A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Commonwealth Retirement Investments LLC bought a new stake in Salesforce in the fourth quarter valued at $25,000. Gilpin Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter worth about $26,000. Persistent Asset Partners Ltd acquired a new stake in shares of Salesforce in the 2nd quarter worth about $27,000. Costello Asset Management INC increased its holdings in shares of Salesforce by 410.3% in the 1st quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 119 shares during the period. Finally, Gables Capital Management Inc. bought a new stake in Salesforce in the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Salesforce News Summary
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:BTIG Research reaffirmed its Buy rating and set a $255 price target, implying substantial upside from recent trading levels. The bullish view reflects confidence in Salesforce’s AI opportunity and earnings outlook. Benzinga article
- Positive Sentiment:One analyst argues Salesforce remains undervalued, citing its AI-enabled growth potential, modest valuation and significant share repurchases. The company’s reported $27.5 billion buyback has reduced shares outstanding and could provide support for earnings per share and the stock. Salesforce Forcing Itself Higher Through Massive Buybacks And AI-Led Growth
- Positive Sentiment:Analysts expect AI cloud demand, acquisitions and disciplined spending to support second-quarter results, with revenue growth forecast at approximately 10.6%. Salesforce is also being discussed as a potential beneficiary of broader enterprise AI adoption. Salesforce Set to Report Q2 Earnings
- Neutral Sentiment:Salesforce has rallied toward the $210 area and is testing a resistance zone near its June high. A strong earnings reaction could determine whether the recent advance continues or stalls. Salesforce Stock Hits a Crucial Resistance Ahead of Earnings
- Negative Sentiment:The main risk is that Salesforce’s earnings report fails to demonstrate a meaningful sales-growth reacceleration. Analysts and investors remain cautious about slower software growth, elevated AI expectations and the possibility that the broader AI trade could weaken. Salesforce Earnings Due: Will Sales Growth Reacceleration Hold Up?
Salesforce Stock Performance
Shares of CRM opened at $209.19 on Tuesday. The firm has a 50-day moving average price of $175.23 and a 200 day moving average price of $181.44. The firm has a market capitalization of $171.32 billion, a PE ratio of 24.21, a P/E/G ratio of 1.13 and a beta of 1.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. Salesforce Inc. has a 52-week low of $146.32 and a 52-week high of $269.11.
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