Elevated Financial Group LLC Acquires Shares of 9,009 Salesforce Inc. $CRM

by · The Cerbat Gem

Elevated Financial Group LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,009 shares of the CRM provider’s stock, valued at approximately $2,387,000. Salesforce comprises about 0.8% of Elevated Financial Group LLC’s holdings, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors raised its holdings in Salesforce by 159.0% during the third quarter. Capital World Investors now owns 17,325,206 shares of the CRM provider’s stock worth $4,106,255,000 after purchasing an additional 10,636,161 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Salesforce in the third quarter valued at about $484,852,000. Alyeska Investment Group L.P. boosted its holdings in Salesforce by 285.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,487,627 shares of the CRM provider’s stock valued at $589,568,000 after purchasing an additional 1,842,117 shares in the last quarter. Generation Investment Management LLP acquired a new position in Salesforce during the 3rd quarter worth approximately $431,157,000. Finally, Capital International Investors increased its position in Salesforce by 9.4% during the 3rd quarter. Capital International Investors now owns 20,051,119 shares of the CRM provider’s stock worth $4,753,519,000 after purchasing an additional 1,729,440 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Key Stories Impacting Salesforce

Here are the key news stories impacting Salesforce this week:

Salesforce Stock Performance

Shares of CRM opened at $178.31 on Friday. Salesforce Inc. has a 12-month low of $163.52 and a 12-month high of $296.05. The stock has a market cap of $145.89 billion, a P/E ratio of 22.83, a PEG ratio of 1.26 and a beta of 1.29. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $187.22 and a two-hundred day moving average of $222.04.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The CRM provider reported $3.81 EPS for the quarter, beating the consensus estimate of $3.05 by $0.76. Salesforce had a net margin of 17.96% and a return on equity of 15.38%. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $11.18 billion. During the same period in the prior year, the business earned $2.78 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Salesforce has set its FY 2027 guidance at 13.110-13.190 EPS and its Q1 2027 guidance at 3.110-3.130 EPS. As a group, research analysts predict that Salesforce Inc. will post 9.71 EPS for the current fiscal year.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 9th were issued a dividend of $0.44 per share. This is a boost from Salesforce’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, April 9th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Salesforce’s payout ratio is currently 22.54%.

Salesforce announced that its Board of Directors has approved a share repurchase program on Monday, March 16th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the CRM provider to purchase up to 14.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRM shares. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 26th. KeyCorp dropped their price objective on Salesforce from $400.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. Wolfe Research reiterated an “outperform” rating on shares of Salesforce in a research report on Thursday, January 15th. Wall Street Zen lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, UBS Group lowered their price target on shares of Salesforce from $260.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $279.18.

Check Out Our Latest Research Report on Salesforce

Insider Buying and Selling at Salesforce

In related news, Director David Blair Kirk purchased 2,570 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $194.62 per share, with a total value of $500,173.40. Following the completion of the acquisition, the director directly owned 13,689 shares in the company, valued at $2,664,153.18. The trade was a 23.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Alber acquired 2,571 shares of Salesforce stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $194.58 per share, for a total transaction of $500,265.18. Following the completion of the transaction, the director directly owned 9,530 shares of the company’s stock, valued at approximately $1,854,347.40. This represents a 36.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.00% of the company’s stock.

About Salesforce

(Free Report)

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.

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