HighPoint Advisor Group LLC Purchases 2,826 Shares of Salesforce, Inc. (NYSE:CRM)

HighPoint Advisor Group LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,872 shares of the CRM provider's stock after buying an additional 2,826 shares during the quarter. HighPoint Advisor Group LLC's holdings in Salesforce were worth $8,441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Arlington Trust Co LLC lifted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc bought a new position in Salesforce during the fourth quarter worth about $31,000. Collier Financial purchased a new position in shares of Salesforce in the fourth quarter worth about $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce 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 sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company'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 completion of the transaction, the chief accounting officer now owns 7,057 shares of the company's stock, valued at $2,344,899.96. This trade represents a 5.82 % 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 company insiders.

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Salesforce Trading Up 0.7 %

Shares of CRM stock traded up $1.82 during mid-day trading on Tuesday, reaching $270.18. The stock had a trading volume of 4,596,911 shares, compared to its average volume of 6,653,506. The firm has a market capitalization of $259.64 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The stock's 50-day moving average price is $308.26 and its two-hundred day moving average price is $311.67. 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.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.42 per share. 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. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. Salesforce's dividend payout ratio is presently 26.10%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Finally, Truist Financial reaffirmed a "buy" rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $361.42.

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.