LM Advisors LLC Has $5.82 Million Position in Salesforce, Inc. (NYSE:CRM)

LM Advisors LLC increased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,378 shares of the CRM provider's stock after acquiring an additional 2,005 shares during the period. Salesforce makes up about 1.0% of LM Advisors LLC's holdings, making the stock its 19th largest holding. LM Advisors LLC's holdings in Salesforce were worth $5,817,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC boosted its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after buying an additional 4,752 shares during the period. Athena Investment Management purchased a new position in shares of Salesforce during the fourth quarter worth $236,000. Highland Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth $4,321,000. Jag Capital Management LLC boosted its holdings in Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after purchasing an additional 22,797 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in Salesforce in the fourth quarter valued at $2,861,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. BMO Capital Markets cut their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday. Loop Capital cut their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald initiated coverage on Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $348.59.

Salesforce Stock Performance

Shares of NYSE CRM traded down $2.12 during mid-day trading on Wednesday, reaching $275.07. 12,207,739 shares of the company were exchanged, compared to its average volume of 6,957,106. The company's 50-day simple moving average is $268.29 and its 200-day simple moving average is $306.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $264.45 billion, a P/E ratio of 45.24, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. 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 a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares in the company, valued at $3,220,525. The trade was a 4.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares of the company's stock, valued at $1,570,312.44. This trade represents a 41.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,553 shares of company stock worth $12,897,323 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

About Salesforce

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.