Bulltick Wealth Management LLC Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Bulltick Wealth Management LLC decreased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 38.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,874 shares of the CRM provider's stock after selling 6,733 shares during the period. Bulltick Wealth Management LLC's holdings in Salesforce were worth $3,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter worth about $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at $3,220,525. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM traded up $4.86 during midday trading on Wednesday, reaching $278.22. The stock had a trading volume of 4,267,505 shares, compared to its average volume of 6,827,672. 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 50 day simple moving average of $268.22 and a 200-day simple moving average of $307.43. The firm has a market cap of $267.48 billion, a PE ratio of 45.76, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. 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 0.60%. Salesforce's dividend payout ratio is 26.10%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and increased their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Citigroup restated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Robert W. Baird reduced their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $350.56.

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.