Castlekeep Investment Advisors LLC Invests $7.94 Million in Salesforce, Inc. (NYSE:CRM)

Castlekeep Investment Advisors LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,737 shares of the CRM provider’s stock, valued at approximately $7,936,000. Salesforce accounts for 1.3% of Castlekeep Investment Advisors LLC’s investment portfolio, making the stock its 16th largest position.

Other large investors have also bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald started coverage on Salesforce in a report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price target for the company. Macquarie reissued a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.59.

Salesforce Stock Performance

Shares of Salesforce stock opened at $273.05 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $268.46 and a 200-day moving average price of $306.58. The company has a market cap of $262.51 billion, a PE ratio of 44.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a $0.42 dividend. 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 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44% 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, CEO Brian Millham sold 3,937 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at $1,570,312.44. The trade was a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,011 shares of company stock worth $13,038,373. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.