Brookwood Investment Group LLC Makes New $537,000 Investment in Salesforce Inc. (NYSE:CRM)

Key Points

• Brookwood Investment Group LLC has made a new investment of approximately $537,000 in Salesforce Inc., purchasing 2,002 shares of the CRM provider during the first quarter.
• Salesforce's CEO, Marc Benioff, recently sold 2,250 shares for around $599,760, although he still retains a significant ownership of 11.9 million shares.
• The stock has seen a trading increase of 0.5% recently, with a market cap of $257.27 billion and a current price of $269.11.

Brookwood Investment Group LLC purchased a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,002 shares of the CRM provider's stock, valued at approximately $537,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $27,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $35,000. Capital A Wealth Management LLC grew its holdings in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $266.56, for a total transaction of $599,760.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,175,148,365.76. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 33,479 shares of company stock worth $9,091,796 over the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.5%

NYSE CRM traded up $1.41 during mid-day trading on Friday, hitting $269.11. The company's stock had a trading volume of 4,013,320 shares, compared to its average volume of 6,704,325. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The stock's fifty day simple moving average is $268.07 and its two-hundred day simple moving average is $284.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $257.27 billion, a P/E ratio of 42.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the company earned $2.44 earnings per share. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Stephens lowered their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Sanford C. Bernstein upped their price target on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research report on Thursday, May 29th. Mizuho reduced their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. Barclays reduced their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Finally, Jefferies Financial Group reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

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.