Anchor Investment Management LLC Reduces Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Anchor Investment Management LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,804 shares of the CRM provider’s stock after selling 486 shares during the period. Anchor Investment Management LLC’s holdings in Salesforce were worth $1,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in shares of Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce in the fourth quarter valued at about $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction 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 owns 46,750 shares in the company, valued at approximately $15,534,090. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $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. Insiders sold a total of 39,439 shares of company stock valued at $12,043,153 over the last three months. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CRM. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock 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 issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.76.

Salesforce Price Performance

Shares of NYSE:CRM opened at $254.77 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50-day simple moving average of $285.91 and a 200-day simple moving average of $310.16. The stock has a market capitalization of $244.83 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

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

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.