Inspire Trust Co. N.A. Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Inspire Trust Co. N.A. grew its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 83.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,500 shares of the CRM provider's stock after buying an additional 2,500 shares during the period. Inspire Trust Co. N.A.'s holdings in Salesforce were worth $1,839,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Legacy Financial Group Inc. purchased a new stake in Salesforce during the fourth quarter valued at about $201,000. Mosaic Family Wealth Partners LLC grew its holdings in shares of Salesforce by 9.5% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 1,176 shares of the CRM provider's stock worth $393,000 after purchasing an additional 102 shares during the period. 49 Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $204,000. McIlrath & Eck LLC increased its position in Salesforce by 62.9% during the 4th quarter. McIlrath & Eck LLC now owns 443 shares of the CRM provider's stock worth $148,000 after purchasing an additional 171 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Salesforce in the fourth quarter valued at approximately $12,999,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,306 shares of company stock valued at $12,841,368 over the last quarter. Insiders own 3.20% of the company's stock.

Salesforce Stock Down 2.0%

Shares of NYSE:CRM opened at $282.35 on Thursday. The company's fifty day moving average is $268.53 and its two-hundred day moving average is $306.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market capitalization of $271.45 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is a positive change 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 0.60%. Salesforce's dividend payout ratio is 26.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CRM shares. Piper Sandler dropped their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a report on Friday, April 25th. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Finally, Bank of America dropped their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $351.59.

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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