Guggenheim Capital LLC Trims Stock Position in Salesforce, Inc. (NYSE:CRM)

Guggenheim Capital LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,238 shares of the CRM provider’s stock after selling 12,873 shares during the period. Guggenheim Capital LLC’s holdings in Salesforce were worth $36,522,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Salesforce

In other news, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. The trade was a 48.76 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % 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 ninety days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRM shares. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Macquarie restated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Wells Fargo & Company reduced their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $360.76.

Salesforce Stock Performance

Shares of CRM opened at $254.04 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The business’s fifty day moving average price is $287.42 and its 200 day moving average price is $310.55. The stock has a market capitalization of $244.13 billion, a PE ratio of 41.78, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid 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 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%.

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.