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

Bull Oak Capital LLC acquired a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,596 shares of the CRM provider's stock, valued at approximately $428,000. Salesforce makes up 0.2% of Bull Oak Capital LLC's holdings, making the stock its 19th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Brighton Jones LLC increased its stake in Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Salesforce by 70.4% in the fourth quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider's stock valued at $933,000 after buying an additional 1,153 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Salesforce in the fourth quarter valued at $1,476,000. Finally, AlphaQuest LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at $813,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $299,603.70. Following the sale, the insider owned 136,824 shares in the company, valued at $35,895,776.40. This represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 1,269 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $332,922.15. Following the completion of the sale, the insider owned 42,678 shares in the company, valued at approximately $11,196,573.30. This represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,034 shares of company stock worth $8,833,235. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

NYSE CRM traded down $4.24 on Thursday, hitting $266.68. 3,120,353 shares of the company's stock were exchanged, compared to its average volume of 6,527,558. 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's 50-day moving average price is $272.54 and its two-hundred day moving average price is $290.38. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The firm has a market cap of $254.95 billion, a price-to-earnings ratio of 41.74, a P/E/G ratio of 2.48 and a beta of 1.36.

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

Salesforce Cuts Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on CRM shares. Wells Fargo & Company boosted their target price on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Mizuho lowered their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Sanford C. Bernstein boosted their target price on Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Westpark Capital reissued a "buy" rating and set a $320.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Barclays lowered their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $349.08.

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.