Lionshead Wealth Management LLC Acquires New Shares in Salesforce, Inc. (NYSE:CRM)

Lionshead Wealth Management LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,773 shares of the CRM provider's stock, valued at approximately $593,000.

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

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,342,415. This represents a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,830 shares of company stock worth $12,907,361. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent analyst reports. Scotiabank dropped their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Canaccord Genuity Group lowered their target price on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Robert W. Baird lowered their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their target price on Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Stephens assumed coverage on Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $350.56.

Salesforce Stock Up 0.1%

NYSE CRM traded up $0.36 during mid-day trading on Tuesday, reaching $289.18. 6,708,467 shares of the company's stock traded hands, compared to its average volume of 6,859,158. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $267.33 and a 200-day simple moving average of $307.23. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $278.01 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

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.