Invst LLC Has $5.82 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Invst LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,418 shares of the CRM provider’s stock after purchasing an additional 415 shares during the quarter. Invst LLC’s holdings in Salesforce were worth $5,823,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Arlington Trust Co LLC grew its holdings 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 acquired a new position in shares of Salesforce during the fourth quarter valued at about $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter valued at about $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Salesforce stock opened at $273.05 on Friday. The firm’s 50 day simple moving average is $268.46 and its 200 day simple moving average is $306.58. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is 26.10%.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 705 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 3,273 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 transaction of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares of the company’s stock, valued at approximately $35,614,048.68. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,011 shares of company stock valued at $13,038,373. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group set a $350.00 price objective on shares of Salesforce in a report on Thursday. Wells Fargo & Company dropped their price target on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Stephens initiated coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target on the stock. Citigroup dropped their price target on shares of Salesforce from $335.00 to $320.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Robert W. Baird dropped their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $351.59.

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.