SCS Capital Management LLC purchased a new stake in Salesforce Inc. (NYSE:CRM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,349 shares of the CRM provider’s stock, valued at approximately $1,154,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Commonwealth Retirement Investments LLC purchased a new position in Salesforce during the 4th quarter valued at about $25,000. Gilpin Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth about $26,000. Costello Asset Management INC lifted its holdings in shares of Salesforce by 410.3% in the first quarter. Costello Asset Management INC now owns 148 shares of the CRM provider’s stock worth $28,000 after buying an additional 119 shares in the last quarter. Birchwood Financial Partners Inc. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $28,000. Finally, Swiss RE Ltd. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $28,000. 80.43% of the stock is currently owned by institutional investors.
Key Salesforce News
Here are the key news stories impacting Salesforce this week:
- Positive Sentiment:JPMorgan resumed coverage with an Overweight rating and a $250 price target, citing potential acceleration in Salesforce’s core business during the second half of the year. The target implies more than 24% upside from recent levels. <a href="https://stocktwits.com/news-articles/markets/equity/crm-stock-on-track-for-third-week-of-gains-jp-morgan-turns-bullish-on-salesforce-sees-h2-core-business-acceleration/cZot4SSRJiQ” rel=”nofollow noopener” target=”_blank”>JPMorgan bullish Salesforce coverage
- Positive Sentiment:Monness Crespi & Hardt raised its Salesforce price target to $222 from $200 and maintained a Buy rating. UBS and Wells Fargo also reportedly forecast strong appreciation, reinforcing improving sell-side sentiment. Monness Crespi Salesforce price target
- Positive Sentiment:Salesforce’s Agentforce platform is gaining traction, giving the company a way to use its large CRM customer base to compete with Microsoft and Oracle in enterprise “agentic” AI. Salesforce agentic AI analysis
- Positive Sentiment:A Seeking Alpha analysis argues that Salesforce’s $27.1 billion share-repurchase program, equivalent to an estimated 23% net buyback yield, could support earnings-per-share growth. The stock also appears inexpensive at roughly 14 times forward earnings, although buybacks have increased debt. Salesforce buyback analysis
- Neutral Sentiment:Salesforce has recently posted strong momentum, with reports noting three consecutive weeks of gains and substantial one-month appreciation. That run may be encouraging investors, but it also raises the possibility of profit-taking.
- Negative Sentiment:Parnassus Investments indicated that Salesforce has lost favor as AI opportunities shift toward competing or substitute technologies. Other commentary likewise warns that alternative software and AI-native tools threaten Salesforce’s traditional CRM franchise. Salesforce AI competition concerns
Salesforce Trading Down 0.2%
Shares of CRM opened at $195.86 on Monday. The firm’s 50 day simple moving average is $171.41 and its 200 day simple moving average is $181.95. The company has a market capitalization of $160.41 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.06 and a beta of 1.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. Salesforce Inc. has a 1-year low of $146.32 and a 1-year high of $269.11.
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