Bull Oak Capital LLC Makes New Investment in Salesforce Inc. (NYSE:CRM)

Bull Oak Capital LLC bought a new position in Salesforce Inc. (NYSE:CRM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,596 shares of the CRM provider's stock, valued at approximately $428,000. Salesforce comprises about 0.2% of Bull Oak Capital LLC's investment portfolio, making the stock its 19th biggest holding.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after buying an additional 175,035 shares during the period. Northern Trust Corp raised its stake in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. Norges Bank bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $3,599,867,000. Price T Rowe Associates Inc. MD raised its stake in shares of Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after acquiring an additional 1,683,233 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Salesforce by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider's stock valued at $2,894,673,000 after acquiring an additional 602,445 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM traded down $5.74 during trading on Friday, reaching $258.23. 7,004,264 shares of the company's stock traded hands, compared to its average volume of 6,547,931. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $246.87 billion, a PE ratio of 40.41, a P/E/G ratio of 2.34 and a beta of 1.36. The company has a 50-day simple moving average of $272.09 and a 200-day simple moving average of $288.86.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 EPS. As a group, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.64%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total transaction of $611,302.50. Following the completion of the sale, the chief executive officer directly owned 11,862,457 shares in the company, valued at approximately $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 261 shares of Salesforce stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $68,473.35. Following the sale, the chief accounting officer directly owned 12,024 shares in the company, valued at approximately $3,154,496.40. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,284 shares of company stock worth $9,444,537 in the last quarter. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stephens reduced their price objective on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Royal Bank Of Canada downgraded shares of Salesforce from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $420.00 to $275.00 in a research note on Thursday, May 29th. Oppenheimer reissued an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a research note on Tuesday, June 10th. Piper Sandler boosted their price objective on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

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.