Coign Capital Advisors LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,146 shares of the CRM provider's stock, valued at approximately $718,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc bought a new position in Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 80.43% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on CRM shares. Robert W. Baird reduced their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus dropped their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Macquarie restated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. One equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $360.76.
View Our Latest Report on Salesforce
Salesforce Trading Up 0.3 %
NYSE CRM traded up $0.86 on Tuesday, hitting $255.41. The company's stock had a trading volume of 2,105,246 shares, compared to its average volume of 6,802,462. The firm has a market cap of $245.45 billion, a P/E ratio of 42.01, a PEG 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 company's 50-day simple moving average is $287.42 and its 200 day simple moving average is $310.55. 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 declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.66%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.
Insider Buying and Selling at Salesforce
In other news, Director Oscar Munoz purchased 3,882 shares of Salesforce stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost of $257.28 per share, with a total value of $998,760.96. Following the completion of the purchase, the director now directly owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by company insiders.
About Salesforce
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Free Report)
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.
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