Northstar Asset Management Inc. reduced its holdings in shares of Salesforce Inc. (NYSE:CRM – Free Report) by 50.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,955 shares of the CRM provider’s stock after selling 9,986 shares during the quarter. Northstar Asset Management Inc.’s holdings in Salesforce were worth $1,560,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Salesforce during the 2nd quarter valued at $11,396,844,000. J. Stern & Co. LLP increased its holdings in Salesforce by 24,056.7% in the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Bank of America Corp DE purchased a new position in Salesforce in the second quarter valued at about $1,914,086,000. Norges Bank purchased a new position in Salesforce in the fourth quarter valued at about $3,182,951,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Salesforce by 130.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock worth $2,363,096,000 after purchasing an additional 7,160,302 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Salesforce Trading Up 1.8%
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Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $2.63. Salesforce had a return on equity of 24.90% and a net margin of 21.99%.The firm had revenue of $11.35 billion during the quarter, compared to analyst estimates of $11.33 billion. During the same quarter last year, the firm earned $2.91 EPS. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. As a group, sell-side analysts predict that Salesforce Inc. will post 10.27 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Monness Crespi & Hardt upped their target price on Salesforce from $222.00 to $266.00 and gave the stock a “buy” rating in a research report on Thursday. Citizens Jmp restated a “market outperform” rating and issued a $315.00 price target on shares of Salesforce in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday. Guggenheim reiterated a “buy” rating and set a $228.00 price objective on shares of Salesforce in a research note on Thursday. Finally, Mizuho boosted their target price on shares of Salesforce from $250.00 to $265.00 and gave the stock an “outperform” rating in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $261.15.
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