Gen Wealth Partners Inc Sells 114 Shares of Salesforce, Inc. (NYSE:CRM)

Gen Wealth Partners Inc cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,826 shares of the CRM provider’s stock after selling 114 shares during the period. Gen Wealth Partners Inc’s holdings in Salesforce were worth $1,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Regent Peak Wealth Advisors LLC increased its position in shares of Salesforce by 3.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock valued at $818,000 after buying an additional 84 shares during the period. Fortitude Family Office LLC boosted its position in Salesforce by 2.2% during the 4th quarter. Fortitude Family Office LLC now owns 2,603 shares of the CRM provider’s stock valued at $870,000 after acquiring an additional 55 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of Salesforce by 5.2% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 4,201 shares of the CRM provider’s stock worth $1,405,000 after acquiring an additional 208 shares during the period. ORG Partners LLC raised its position in shares of Salesforce by 5.4% in the 4th quarter. ORG Partners LLC now owns 3,692 shares of the CRM provider’s stock worth $1,235,000 after acquiring an additional 189 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Salesforce by 0.3% in the 4th quarter. ST Germain D J Co. Inc. now owns 22,676 shares of the CRM provider’s stock valued at $7,581,000 after purchasing an additional 57 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.6 %

NYSE CRM opened at $275.38 on Friday. The stock’s 50-day moving average price is $267.33 and its 200-day moving average price is $307.06. The company has a market capitalization of $264.75 billion, a P/E ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.61%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Insiders Place Their Bets

In other 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 value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the sale, the chief accounting officer now directly owns 11,711 shares in the company, valued at $3,220,525. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $12,907,361 over the last three months. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRM. Bank of America reduced their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. DA Davidson reiterated an “underperform” rating and issued a $200.00 price target on shares of Salesforce in a research note on Monday, April 21st. Jefferies Financial Group dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Oppenheimer decreased their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler lowered their target price on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $350.56.

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.