Dogwood Wealth Management LLC Acquires Shares of 2,248 Salesforce, Inc. (NYSE:CRM)

Dogwood Wealth Management LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,248 shares of the CRM provider's stock, valued at approximately $752,000.

A number of other hedge funds have also modified their holdings of the stock. Nvest Financial LLC grew its holdings in shares of Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after buying an additional 31 shares during the period. Prossimo Advisors LLC boosted its stake in shares of Salesforce by 1.0% during the 4th 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. Finally, Muirfield Wealth Advisors LLC boosted its stake in shares of Salesforce by 2.3% during the 4th quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock worth $487,000 after acquiring an additional 33 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company'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 value of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,553 shares of company stock valued at $12,897,323 in the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

CRM stock traded down $8.67 during midday trading on Thursday, reaching $267.36. 28,032,280 shares of the stock were exchanged, compared to its average volume of 7,033,616. The stock has a market capitalization of $257.03 billion, a PE ratio of 43.97, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day moving average price of $268.16 and a 200 day moving average price of $305.79.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the previous year, the company posted $2.44 EPS. The business's revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. UBS Group reduced their target price on Salesforce from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Tuesday. Stifel Nicolaus dropped their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Mizuho dropped their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Finally, Loop Capital dropped their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $342.90.

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.