Advisory Services Network LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Advisory Services Network LLC increased its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,947 shares of the CRM provider's stock after purchasing an additional 1,719 shares during the period. Advisory Services Network LLC's holdings in Salesforce were worth $16,699,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRM. Bernard Wealth Management Corp. purchased a new position in Salesforce in the 4th quarter worth about $25,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter worth $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the 4th quarter valued at about $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company's stock.

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Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Guggenheim reaffirmed a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Jefferies Financial Group dropped their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Salesforce Trading Down 0.1 %

Shares of NYSE CRM traded down $0.14 during mid-day trading on Friday, reaching $254.98. The company had a trading volume of 6,087,156 shares, compared to its average volume of 6,812,000. The stock has a market cap of $245.04 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The business's 50-day moving average is $289.29 and its 200-day moving average is $310.46. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

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.