Salesforce, Inc. (NYSE:CRM) Shares Acquired by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,961 shares of the CRM provider’s stock after purchasing an additional 205 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Salesforce were worth $1,324,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Nvest Financial LLC increased its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD increased its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC increased its stake in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its stake in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $273.05 on Friday. The company’s 50-day moving average price is $268.46 and its 200-day moving average price 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 company has a market cap of $262.51 billion, a P/E ratio of 44.91, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Analysts Set New Price Targets

CRM has been the topic of a number of research reports. Scotiabank cut their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Citigroup cut their price objective on shares of Salesforce from $335.00 to $320.00 and set a “neutral” rating on the stock in a research note on Friday. Westpark Capital reiterated a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. Stephens initiated coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective on the stock. Finally, Mizuho cut their price objective on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $351.59.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the transaction, the chief accounting officer now directly owns 11,711 shares of the company’s stock, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Miguel Milano sold 705 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now directly owns 9,323 shares in the company, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,011 shares of company stock valued at $13,038,373. Corporate insiders own 3.20% of the company’s stock.

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.