Generation Capital Management LLC Invests $1.75 Million in Salesforce, Inc. (NYSE:CRM)

Generation Capital Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,238 shares of the CRM provider's stock, valued at approximately $1,751,000. Salesforce comprises about 1.5% of Generation Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors have also recently made changes to their positions in the business. Foundations Investment Advisors LLC grew its position in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management purchased a new stake in Salesforce in the fourth quarter worth about $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $4,321,000. Nordea Investment Management AB lifted its position in shares of Salesforce by 11.9% during the 4th quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock valued at $766,566,000 after buying an additional 243,008 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its stake in shares of Salesforce by 14.1% during the 4th quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock valued at $5,252,000 after acquiring an additional 1,936 shares during the period. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 2.9 %

CRM stock traded up $6.94 during trading on Tuesday, hitting $243.20. 3,020,069 shares of the company's stock traded hands, compared to its average volume of 6,778,678. The firm has a market capitalization of $233.71 billion, a P/E ratio of 39.99, a PEG 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 company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $279.43 and a two-hundred day simple moving average of $309.44.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.69%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday. Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Scotiabank lowered their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $357.49.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock worth $14,124,094 in the last three months. 3.20% of the stock is owned by insiders.

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.