Breakwater Capital Group Increases Position in Salesforce, Inc. (NYSE:CRM)

Breakwater Capital Group grew its stake in Salesforce, Inc. (NYSE:CRM) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 834 shares of the CRM provider’s stock after acquiring an additional 45 shares during the quarter. Breakwater Capital Group’s holdings in Salesforce were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Chase Investment Counsel Corp increased its holdings in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after buying an additional 36 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in Salesforce by 11.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares in the last quarter. Fox Hill Wealth Management increased its holdings in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after purchasing an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares in the last quarter. Finally, Glassman Wealth Services increased its holdings in Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total value of $660,772.00. Following the transaction, the insider now owns 115,762 shares in the company, valued at $27,318,674.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total value of $660,772.00. Following the transaction, the insider now owns 115,762 shares in the company, valued at $27,318,674.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. Insiders have sold 123,764 shares of company stock worth $30,102,367 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of NYSE CRM traded down $5.21 during mid-day trading on Wednesday, reaching $258.99. 10,915,202 shares of the company traded hands, compared to its average volume of 6,564,717. 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 firm has a market cap of $250.96 billion, a PE ratio of 46.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The stock has a fifty day simple moving average of $253.44 and a 200-day simple moving average of $271.63.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.21. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group lowered their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company lowered their price target on Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Barclays lowered their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Bank of America raised their target price on Salesforce from $288.00 to $316.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Mizuho lowered their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.38.

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.