GeoWealth Management LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

GeoWealth Management LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 11.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,179 shares of the CRM provider's stock after acquiring an additional 1,719 shares during the period. GeoWealth Management LLC's holdings in Salesforce were worth $5,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRM. Nvest Financial LLC grew its position in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Salesforce by 4.1% during the fourth 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 period. Sachetta LLC raised its stake in shares of 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 purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after buying an additional 32 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of Salesforce 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 completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 652 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,654 shares of company stock valued at $14,124,094 in the last three months. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Bank of America dropped their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Macquarie reiterated a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. DA Davidson reissued an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a report on Monday. Loop Capital cut their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $357.49.

Salesforce Price Performance

NYSE CRM traded up $7.54 on Tuesday, hitting $243.80. 2,914,924 shares of the company's stock were exchanged, compared to its average volume of 6,778,036. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $234.29 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 2.58 and a beta of 1.38. The stock has a 50-day moving average of $279.43 and a 200-day moving average of $309.44.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. 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.