Strategies Wealth Advisors LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Strategies Wealth Advisors LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,469 shares of the CRM provider’s stock, valued at approximately $806,000.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp grew its stake in shares of Salesforce by 5.5% in the 3rd quarter. M&T Bank Corp now owns 193,314 shares of the CRM provider’s stock valued at $52,912,000 after buying an additional 10,084 shares during the period. Invst LLC boosted its position in shares of Salesforce by 4.2% during the third quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock worth $4,654,000 after buying an additional 685 shares during the period. Passumpsic Savings Bank grew its stake in shares of Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock valued at $2,007,000 after buying an additional 87 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of Salesforce by 15.7% in the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock valued at $1,174,000 after buying an additional 581 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in Salesforce by 14.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after acquiring an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Canaccord Genuity Group reduced their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock 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 research report on Thursday, February 27th. Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Oppenheimer decreased their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Stock Performance

NYSE CRM opened at $254.98 on Monday. The business’s 50-day moving average price is $289.29 and its 200 day moving average price is $310.70. 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 twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $245.04 billion, a PE ratio of 41.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. This represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Oscar Munoz bought 3,882 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the purchase, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by company 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.