White Knight Strategic Wealth Advisors LLC Has $903,000 Holdings in Salesforce, Inc. (NYSE:CRM)

White Knight Strategic Wealth Advisors LLC boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 95.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,702 shares of the CRM provider's stock after purchasing an additional 1,320 shares during the quarter. White Knight Strategic Wealth Advisors LLC's holdings in Salesforce were worth $903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Financial LLC raised its stake in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD increased its stake in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC grew its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its position in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of CRM traded up $0.80 during mid-day trading on Thursday, reaching $283.08. 6,638,753 shares of the company's stock traded hands, compared to its average volume of 6,911,387. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $272.15 billion, a P/E ratio of 46.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The business's 50-day moving average price is $268.53 and its 200-day moving average price 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 Increases Dividend

The firm also recently declared 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 0.59%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $14,071,750. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value 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. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRM shares. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. Mizuho reduced their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Canaccord Genuity Group decreased their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Citigroup restated a "buy" rating on shares of Salesforce in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target 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.