RFG Bristol Wealth Advisors LLC Makes New $716,000 Investment in Salesforce, Inc. (NYSE:CRM)

RFG Bristol Wealth Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,142 shares of the CRM provider's stock, valued at approximately $716,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $3,599,867,000. Raymond James Financial Inc. acquired a new position in shares of Salesforce during the fourth quarter worth $1,173,564,000. Jennison Associates LLC increased its holdings in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the last quarter. Swedbank AB lifted its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Salesforce by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider's stock worth $1,871,721,000 after acquiring an additional 1,204,355 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson lowered their price target on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Guggenheim reaffirmed a "sell" rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given 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 presently has a consensus rating of "Moderate Buy" and an average target price of $361.42.

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Salesforce Price Performance

Shares of CRM traded up $1.86 on Wednesday, reaching $272.06. The stock had a trading volume of 5,381,593 shares, compared to its average volume of 6,656,096. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $261.45 billion, a PE ratio of 44.75, a PEG ratio of 2.58 and a beta of 1.35. The firm has a 50-day moving average of $305.91 and a 200 day moving average of $311.50. 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 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 issued a $0.42 dividend. This is a positive change 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 yield of 0.62%. Salesforce's dividend payout ratio is 26.10%.

Insider Activity

In other Salesforce news, CEO Brian Millham sold 3,937 shares of the firm's stock in a transaction 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 owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction 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 owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock worth $14,095,336 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.