Crux Wealth Advisors Acquires Shares of 4,121 Salesforce, Inc. (NYSE:CRM)

Crux Wealth Advisors purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,121 shares of the CRM provider's stock, valued at approximately $1,378,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nvest Financial LLC lifted its holdings in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after acquiring an additional 31 shares during the last quarter. OMC Financial Services LTD increased its stake in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC raised its stake in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research analyst reports. JMP Securities reiterated a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Scotiabank lowered their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Robert W. Baird dropped their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup reissued a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $360.76.

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Insider Buying and Selling

In related news, insider R David Schmaier sold 1,785 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now directly owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Oscar Munoz acquired 3,882 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now directly owns 11,843 shares of the company's stock, valued at $3,046,967.04. This represents a 48.76 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 0.4 %

Shares of CRM stock traded down $0.96 on Monday, reaching $254.04. 6,037,638 shares of the stock were exchanged, compared to its average volume of 6,820,881. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $244.13 billion, a P/E ratio of 41.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $289.29 and a two-hundred day moving average of $310.70.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is presently 26.10%.

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.