Insigneo Advisory Services LLC Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Insigneo Advisory Services LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,279 shares of the CRM provider’s stock after selling 683 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Salesforce were worth $3,102,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In related news, insider Parker Harris sold 652 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 transaction of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,439 shares of company stock worth $12,043,153. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $254.77 on Wednesday. The stock has a 50-day moving average of $285.91 and a two-hundred day moving average of $310.16. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $244.83 billion, a P/E ratio of 41.90, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The company 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 of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is currently 26.10%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group decreased their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Macquarie reissued a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Jefferies Financial Group decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Scotiabank dropped their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $360.76.

About Salesforce

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.