Mach 1 Financial Group LLC Has $223,000 Position in Salesforce, Inc. (NYSE:CRM)

Mach 1 Financial Group LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 22.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 666 shares of the CRM provider’s stock after selling 189 shares during the period. Mach 1 Financial Group LLC’s holdings in Salesforce were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter worth $25,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in 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 bought a new position in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $246.93 on Friday. The firm has a market cap of $237.30 billion, a P/E ratio of 40.61, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. 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 firm’s 50 day moving average price is $281.23 and its two-hundred day moving average price is $309.60.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.68%. Salesforce’s dividend payout ratio is presently 26.10%.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This trade represents a 16.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,654 shares of company stock worth $14,124,094. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer cut their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Finally, Robert W. Baird reduced their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” 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 given a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.32.

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.