LifeWealth Investments LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

LifeWealth Investments LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 917 shares of the CRM provider's stock, valued at approximately $307,000.

A number of other hedge funds have also made changes to their positions in CRM. Norges Bank bought a new stake in shares of Salesforce in the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $1,173,564,000. Invesco Ltd. lifted its position in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robin L. Washington bought 1,695 shares of Salesforce stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the transaction, the director now owns 43,445 shares of the company's stock, valued at approximately $12,799,331.45. This represents a 4.06% increase in their position. The disclosure for this purchase can be found here. Insiders sold 46,553 shares of company stock worth $12,897,323 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock traded up $3.80 during mid-day trading on Tuesday, hitting $276.93. The stock had a trading volume of 10,944,663 shares, compared to its average volume of 6,935,640. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market cap of $266.24 billion, a PE ratio of 45.55, a PEG ratio of 2.58 and a beta of 1.42. 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's 50-day simple moving average is $268.33 and its 200-day simple moving average is $306.20.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Analysts Set New Price Targets

A number of brokerages have commented on CRM. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Wells Fargo & Company dropped their target price on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. DA Davidson reissued an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a 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 for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $349.87.

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.