Odyssean LLC bought a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,920 shares of the CRM provider’s stock, valued at approximately $2,807,000.
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Other institutional investors have also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC bought a new position in Salesforce in the fourth quarter worth $25,000. Manning & Napier Advisors LLC purchased a new position in Salesforce during the second quarter valued at $26,000. Gilpin Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Persistent Asset Partners Ltd bought a new stake in shares of Salesforce during the 2nd quarter valued at $27,000. Finally, Costello Asset Management INC grew its position 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 buying an additional 119 shares during the period. Institutional investors own 80.43% of the company’s stock.
Salesforce News Roundup
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:Analysts continue to see upside: Canaccord Genuity reaffirmed a “buy” rating with a $225 price target, Citizens JMP maintained “market outperform” with a $315 target, and BTIG reiterated “buy” with a $255 target. These targets imply that the recent pullback has created potential valuation upside. Analyst rating updates
- Positive Sentiment:Agentforce adoption and Salesforce’s expanding AI ecosystem are expected to support subscription growth. New integrations from ZoomInfo and Agiloft on the AgentExchange marketplace also suggest that third-party developers are increasingly using Salesforce and Slack AI workflows, strengthening the company’s platform moat. CRM Q2 earnings previewAgentExchange ecosystem
- Neutral Sentiment:Jefferies expects an in-line fiscal second quarter. Its survey of 20 Salesforce partners was moderately encouraging, with 70% reporting results at or above plan, but investors are likely to focus more heavily on management’s second-half growth outlook and Agentforce monetization. Jefferies Salesforce outlook
- Negative Sentiment:The earnings setup leaves little room for disappointment: Salesforce is expected to post roughly 10.6% revenue growth, while analysts want evidence that slower sales growth is reaccelerating. The stock is also testing technical resistance near $210, and broader caution toward technology shares may be limiting buying ahead of the report.
Salesforce Stock Performance
Shares of CRM stock opened at $205.74 on Wednesday. The company has a market capitalization of $168.50 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.79 and a current ratio of 0.79. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11. The company’s 50-day moving average is $176.11 and its 200 day moving average is $181.49.
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