Chris Bulman Inc Makes New $186,000 Investment in Salesforce, Inc. (NYSE:CRM)

Chris Bulman Inc acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 722 shares of the CRM provider’s stock, valued at approximately $186,000.

Other large investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its position in shares of Salesforce by 6.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after acquiring an additional 366 shares during the last quarter. Aveo Capital Partners LLC lifted its position in Salesforce by 44.7% during the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock valued at $422,000 after purchasing an additional 496 shares during the last quarter. 9258 Wealth Management LLC grew its stake in shares of Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after buying an additional 1,253 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Salesforce by 32.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after buying an additional 970 shares during the last quarter. Finally, AGF Management Ltd. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $280,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

CRM opened at $243.97 on Friday. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.11. The business’s 50-day moving average is $254.52 and its two-hundred day moving average is $269.68. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRM. Mizuho reduced their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. UBS Group raised their price target on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer boosted their price objective on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James raised their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.41.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the sale, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $241.74, for a total value of $3,626,100.00. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. 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 quarter. 3.20% of the stock is currently owned by corporate insiders.

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.