Breakwater Capital Group Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Breakwater Capital Group boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 126.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,926 shares of the CRM provider's stock after acquiring an additional 1,074 shares during the quarter. Breakwater Capital Group's holdings in Salesforce were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce during the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new position in shares of Salesforce during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

CRM stock opened at $266.81 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $266.48 and a 200-day moving average price of $302.92. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00. The firm has a market capitalization of $255.07 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's payout ratio is currently 25.98%.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock valued at $11,024,802 over the last ninety days. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Jefferies Financial Group lowered their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. BMO Capital Markets reduced their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. Royal Bank of Canada cut Salesforce from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $420.00 to $275.00 in a research note on Thursday, May 29th. Finally, DA Davidson reissued an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average target price of $346.34.

Salesforce Company Profile

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.

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