Bull Oak Capital LLC Buys New Position in Salesforce, Inc. (NYSE:CRM)

Bull Oak Capital LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 218 shares of the CRM provider’s stock, valued at approximately $60,000.

Several other large investors have also bought and sold shares of the company. West Michigan Advisors LLC lifted its holdings in shares of Salesforce by 732.1% during the third quarter. West Michigan Advisors LLC now owns 13,522 shares of the CRM provider’s stock valued at $3,702,000 after purchasing an additional 11,897 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in shares of Salesforce by 6.5% during the third quarter. Mainstay Capital Management LLC ADV now owns 5,465 shares of the CRM provider’s stock valued at $1,496,000 after purchasing an additional 332 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Salesforce by 18,090.0% during the third quarter. Mount Yale Investment Advisors LLC now owns 18,190 shares of the CRM provider’s stock valued at $4,979,000 after purchasing an additional 18,090 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in shares of Salesforce by 62.7% during the third quarter. Legacy Capital Group California Inc. now owns 3,619 shares of the CRM provider’s stock valued at $991,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Zweig DiMenna Associates LLC lifted its holdings in shares of Salesforce by 1,566.7% during the third quarter. Zweig DiMenna Associates LLC now owns 25,000 shares of the CRM provider’s stock valued at $6,843,000 after purchasing an additional 23,500 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CRM shares. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Finally, Stifel Nicolaus increased their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $312.51.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total value of $1,080,576.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,251,239.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,812 shares of company stock worth $23,418,916 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $286.74 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $277.85 billion, a price-to-earnings ratio of 51.57, a P/E/G ratio of 2.61 and a beta of 1.30. The business’s 50-day simple moving average is $268.70 and its 200-day simple moving average is $263.24. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.