Whelan Financial Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Whelan Financial acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 883 shares of the CRM provider's stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Williams Jones Wealth Management LLC. grew its position in shares of Salesforce by 4.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 2,507 shares of the CRM provider's stock valued at $838,000 after purchasing an additional 117 shares in the last quarter. Woodline Partners LP grew its position in Salesforce by 19,437.4% during the fourth quarter. Woodline Partners LP now owns 169,780 shares of the CRM provider's stock worth $56,763,000 after buying an additional 168,911 shares in the last quarter. Zurich Insurance Group Ltd FI increased its stake in Salesforce by 110.9% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 562,125 shares of the CRM provider's stock worth $187,935,000 after acquiring an additional 295,554 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Salesforce in the 4th quarter valued at about $752,000. Finally, Victrix Investment Advisors purchased a new stake in shares of Salesforce in the 4th quarter valued at about $228,000. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRM. Piper Sandler decreased their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Robert W. Baird lowered their price objective 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. UBS Group cut their target price on shares of Salesforce from $340.00 to $320.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $351.59.

Salesforce Trading Up 0.3%

Shares of CRM traded up $0.80 during mid-day trading on Thursday, hitting $283.08. 6,638,753 shares of the company's stock traded hands, compared to its average volume of 6,897,035. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market capitalization of $272.15 billion, a P/E ratio of 46.56, a PEG ratio of 2.58 and a beta of 1.42. The business's 50-day moving average price is $268.53 and its 200-day moving average price is $306.85.

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 paid a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,306 shares of company stock worth $12,841,368 in the last quarter. 3.20% of the stock is owned by company insiders.

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.