Salesforce, Inc. (NYSE:CRM) Shares Purchased by WBI Investments LLC

WBI Investments LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 54.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,069 shares of the CRM provider's stock after purchasing an additional 1,791 shares during the quarter. WBI Investments LLC's holdings in Salesforce were worth $1,695,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter worth approximately $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Mizuho reduced their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday. Piper Sandler reduced their target price on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Macquarie reissued a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Thursday, March 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Finally, Jefferies Financial Group lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One research 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $352.62.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,527 shares of company stock worth $14,882,976. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $291.00 on Monday. The business's fifty day simple moving average is $268.10 and its 200-day simple moving average is $307.21. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market cap of $279.76 billion, a PE ratio of 47.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

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.

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