Concentrum Wealth Management Purchases New Position in Salesforce, Inc. (NYSE:CRM)

Concentrum Wealth Management acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,003 shares of the CRM provider's stock, valued at approximately $1,004,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Trek Financial LLC grew its holdings in Salesforce by 1,402.7% during the 4th quarter. Trek Financial LLC now owns 11,240 shares of the CRM provider's stock valued at $3,758,000 after purchasing an additional 10,492 shares in the last quarter. Polymer Capital Management HK LTD acquired a new stake in shares of Salesforce during the fourth quarter valued at about $1,688,000. Ashburton Jersey Ltd purchased a new stake in shares of Salesforce during the fourth quarter worth about $4,084,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Salesforce by 3,052.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,035 shares of the CRM provider's stock worth $1,349,000 after acquiring an additional 3,907 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Salesforce by 13.5% in the fourth quarter. Federated Hermes Inc. now owns 397,949 shares of the CRM provider's stock valued at $133,046,000 after purchasing an additional 47,478 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In other news, Director Oscar Munoz acquired 3,882 shares of Salesforce stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the transaction, the director now owns 11,843 shares of the company's stock, valued at $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,660 shares of company stock worth $14,095,336. Company insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock traded down $9.94 during midday trading on Thursday, hitting $254.81. The company had a trading volume of 4,934,564 shares, compared to its average volume of 6,768,619. The stock has a market cap of $244.88 billion, a PE ratio of 41.60, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business's 50 day simple moving average is $292.76 and its two-hundred day simple moving average is $310.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The business also recently disclosed 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. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. Salesforce's payout ratio is presently 26.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Loop Capital cut 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. Canaccord Genuity Group dropped their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup reissued a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $361.42.

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.