Sagespring Wealth Partners LLC Invests $4.94 Million in Salesforce, Inc. (NYSE:CRM)

Sagespring Wealth Partners LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,765 shares of the CRM provider's stock, valued at approximately $4,936,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Nvest Financial LLC increased its holdings in shares of 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 boosted its holdings in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake 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 acquiring an additional 31 shares during the period. Sachetta LLC raised its holdings in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC lifted its position in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $360.76.

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Salesforce Price Performance

Salesforce stock traded down $0.96 on Monday, reaching $254.04. The company's stock had a trading volume of 6,037,638 shares, compared to its average volume of 6,820,883. The business's fifty day moving average price is $287.42 and its 200 day moving average price is $310.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $244.13 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given 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 yield of 0.66%. Salesforce's dividend payout ratio is 26.10%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction 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 approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by corporate insiders.

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.