B. Riley Wealth Advisors Inc. Sells 3,162 Shares of Salesforce, Inc. (NYSE:CRM)

B. Riley Wealth Advisors Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,437 shares of the CRM provider's stock after selling 3,162 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Salesforce were worth $8,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Financial LLC lifted its position in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD lifted its position in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its position in Salesforce by 4.1% during 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. Sachetta LLC lifted its position in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC lifted its position in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the transaction, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company's stock, 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. In the last ninety days, insiders sold 46,553 shares of company stock worth $12,897,323. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $2.12 during mid-day trading on Wednesday, reaching $275.07. 12,346,453 shares of the company traded hands, compared to its average volume of 6,957,360. The company's 50 day moving average price is $268.29 and its 200-day moving average price is $306.00. The firm has a market cap of $264.45 billion, a PE ratio of 45.24, 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. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce's payout ratio is 26.10%.

Analyst Ratings Changes

Several research firms have recently issued reports on CRM. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. UBS Group lowered their price target on Salesforce from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Tuesday. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target for the company. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $320.00 price target on shares of Salesforce in a research report on Wednesday. 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $348.59.

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.