Salesforce, Inc. (NYSE:CRM) Shares Acquired by West Oak Capital LLC

West Oak Capital LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 106.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,495 shares of the CRM provider’s stock after purchasing an additional 770 shares during the period. West Oak Capital LLC’s holdings in Salesforce were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Marks Group Wealth Management Inc lifted its stake in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after purchasing an additional 257 shares during the period. Spartan Planning & Wealth Management raised its position in Salesforce by 66.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after acquiring an additional 625 shares during the period. Roman Butler Fullerton & Co. raised its position in Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares during the period. Parnassus Investments LLC raised its position in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares during the period. Finally, TD Asset Management Inc raised its position in Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after acquiring an additional 194,224 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRM shares. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Thursday, May 30th. Morgan Stanley decreased their price target on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Barclays lowered their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. DA Davidson lowered their price target on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 2,018 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $260.00, for a total transaction of $524,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 2,018 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $260.00, for a total transaction of $524,680.00. The disclosure for this sale can be found here. Insiders sold a total of 509,952 shares of company stock worth $139,786,753 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.1 %

CRM stock traded up $0.21 during midday trading on Tuesday, reaching $256.42. 5,130,403 shares of the company’s stock traded hands, compared to its average volume of 6,962,483. The business has a 50-day moving average price of $259.43 and a two-hundred day moving average price of $276.46. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $248.47 billion, a P/E ratio of 46.13, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s payout ratio is 7.19%.

Salesforce 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.