Salesforce, Inc. (NYSE:CRM) Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,007 shares of the CRM provider’s stock after selling 975 shares during the quarter. Salesforce comprises 1.0% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 23rd largest holding. FRG Family Wealth Advisors LLC’s holdings in Salesforce were worth $5,686,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $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 during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc bought a new stake in Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial bought a new stake in Salesforce during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $257.58 on Thursday. The firm has a market capitalization of $247.53 billion, a price-to-earnings ratio of 42.37, a PEG ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $292.76 and its 200-day moving average is $310.70. 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. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their target price 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. Oppenheimer dropped their price objective on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Robert W. Baird cut their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” 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 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.