AlphaCore Capital LLC Has $1.32 Million Position in Salesforce, Inc. (NYSE:CRM)

AlphaCore Capital LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 38.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,938 shares of the CRM provider's stock after selling 2,459 shares during the period. AlphaCore Capital LLC's holdings in Salesforce were worth $1,318,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRM. Mackenzie Financial Corp boosted its position in shares of Salesforce by 100.2% during the 4th quarter. Mackenzie Financial Corp now owns 585,861 shares of the CRM provider's stock worth $195,871,000 after purchasing an additional 293,291 shares in the last quarter. Forum Financial Management LP boosted its position in shares of Salesforce by 24.5% during the 4th quarter. Forum Financial Management LP now owns 10,543 shares of the CRM provider's stock worth $3,525,000 after purchasing an additional 2,075 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Salesforce during the 4th quarter worth about $7,936,000. Drucker Wealth 3.0 LLC boosted its position in shares of Salesforce by 5.5% during the 4th quarter. Drucker Wealth 3.0 LLC now owns 3,961 shares of the CRM provider's stock worth $1,324,000 after purchasing an additional 205 shares in the last quarter. Finally, Warm Springs Advisors Inc. bought a new position in shares of Salesforce during the 4th quarter worth about $995,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Friday, April 25th. Stifel Nicolaus dropped their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Mizuho dropped their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research report on Monday, April 21st. Finally, Morgan Stanley dropped their price target on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $351.59.

Salesforce Trading Down 3.7%

Shares of Salesforce stock opened at $273.05 on Friday. The company has a fifty day simple moving average of $268.46 and a 200-day simple moving average of $306.58. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 stock has a market cap of $262.51 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.58 and a beta of 1.42.

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 given a $0.42 dividend. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.62%. Salesforce's dividend payout ratio is 26.10%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of the company's stock in a transaction on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,011 shares of company stock worth $13,038,373 in the last 90 days. 3.20% of the stock is owned by 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.

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