Bull Oak Capital LLC Acquires Shares of 1,596 Salesforce Inc. (NYSE:CRM)

Bull Oak Capital LLC purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 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 investment portfolio, making the stock its 19th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $27,000. Abound Financial LLC acquired a new position in shares of Salesforce during the 1st quarter valued at about $31,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $45,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of Salesforce stock traded down $6.97 during midday trading on Thursday, hitting $263.95. 7,239,650 shares of the company were exchanged, compared to its average volume of 6,534,179. 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 cap of $252.34 billion, a P/E ratio of 41.31, a PEG ratio of 2.46 and a beta of 1.36. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The firm has a 50 day simple moving average of $272.43 and a 200-day simple moving average of $289.84.

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

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.63%. Salesforce's payout ratio is 25.98%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total value of $386,831.50. Following the completion of the transaction, the chief accounting officer owned 12,211 shares in the company, valued at approximately $3,097,442.26. The trade was a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares of the company's stock, valued at approximately $3,232,282,283.36. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,284 shares of company stock worth $9,444,537. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Westpark Capital reissued a "buy" rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Northland Securities lowered their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Barclays lowered their price objective on Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Citigroup lowered their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Finally, Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $348.68.

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.