Phoenix Financial Ltd. Has $12.44 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Phoenix Financial Ltd. lifted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 39.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,174 shares of the CRM provider's stock after purchasing an additional 10,520 shares during the quarter. Phoenix Financial Ltd.'s holdings in Salesforce were worth $12,435,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nvest Financial LLC boosted its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD lifted its position in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings 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 last quarter. Sachetta LLC boosted its stake in Salesforce by 0.3% during the 4th 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 during the period. Finally, Prossimo Advisors LLC increased its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

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Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company's stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock valued at $14,095,336 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 0.3 %

NYSE CRM traded down $0.79 during trading hours on Monday, hitting $254.21. The company's stock had a trading volume of 2,232,284 shares, compared to its average volume of 6,806,232. The stock has a fifty day moving average of $289.29 and a 200 day moving average of $310.70. The firm has a market capitalization of $244.30 billion, a P/E ratio of 41.81, a PEG ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is presently 26.10%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRM. Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Piper Sandler reaffirmed an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Scotiabank decreased their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Citigroup reiterated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and lifted their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $361.42.

About Salesforce

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.