WealthCollab LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

WealthCollab LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 354.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,868 shares of the CRM provider’s stock after purchasing an additional 2,237 shares during the quarter. WealthCollab LLC’s holdings in Salesforce were worth $959,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter valued at $25,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $267.79 on Wednesday. The firm has a market cap of $257.45 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $271.56 and its 200 day moving average price is $308.10. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,051 shares of company stock worth $15,027,714. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Scotiabank reduced their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Finally, Oppenheimer lowered their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $351.37.

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.