Caprock Group LLC Has $8.63 Million Stake in Salesforce, Inc. (NYSE:CRM)

Caprock Group LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 79.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,571 shares of the CRM provider’s stock after purchasing an additional 14,891 shares during the period. Caprock Group LLC’s holdings in Salesforce were worth $8,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce in the 1st quarter valued at $33,000. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Salesforce during the 4th quarter worth $35,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $241.74, for a total value of $3,626,100.00. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $2,940,152,355.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The disclosure for this sale can be found here. Insiders sold 83,692 shares of company stock valued at $21,006,957 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $243.97 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $236.41 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The business has a 50 day moving average price of $254.52 and a 200-day moving average price of $269.68. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Mizuho dropped their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, DA Davidson boosted their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $304.41.

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.