Headinvest LLC Sells 98 Shares of Salesforce, Inc. (NYSE:CRM)

Headinvest LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,096 shares of the CRM provider’s stock after selling 98 shares during the quarter. Headinvest LLC’s holdings in Salesforce were worth $701,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Foundations Investment Advisors LLC lifted its position in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the period. Athena Investment Management bought a new stake in shares of Salesforce in the 4th quarter worth approximately $236,000. Highland Capital Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $4,321,000. Jag Capital Management LLC lifted its position in shares of Salesforce by 2,507.9% in the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock worth $7,926,000 after acquiring an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $2,861,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares of the company’s stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. DA Davidson reiterated an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a research report on Monday, April 21st. Morgan Stanley dropped their target price on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Mizuho dropped their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Scotiabank dropped their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $351.59.

Salesforce Price Performance

NYSE:CRM opened at $282.35 on Thursday. 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’s 50-day simple moving average is $268.53 and its 200 day simple moving average is $306.85. The company has a market cap of $271.45 billion, a P/E ratio of 46.44, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

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.