Stonebrook Private Inc. Has $1.41 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Stonebrook Private Inc. grew its position in Salesforce, Inc. (NYSE:CRM) by 22.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,493 shares of the CRM provider’s stock after buying an additional 1,017 shares during the period. Stonebrook Private Inc.’s holdings in Salesforce were worth $1,412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the period. Capital World Investors grew its stake in shares of Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the period. Fisher Asset Management LLC grew its stake in shares of Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after purchasing an additional 736,986 shares during the period. Capital Research Global Investors grew its stake in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. Finally, Capital International Investors grew its stake in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. UBS Group lifted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and set a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Mizuho reduced their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Canaccord Genuity Group lifted their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $304.41.

Salesforce Stock Performance

NYSE CRM traded down $2.15 during trading on Friday, reaching $243.97. 6,259,431 shares of the company’s stock were exchanged, compared to its average volume of 6,604,331. The business has a 50 day moving average price of $254.52 and a 200-day moving average price of $269.79. The stock has a market capitalization of $236.41 billion, a P/E ratio of 43.89, a PEG 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. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

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

Salesforce Announces Dividend

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

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on 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 transaction, the insider now directly 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 accessible through this link. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the 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 completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,692 shares of company stock valued at $21,006,957. 3.20% of the stock is owned by insiders.

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.