Scissortail Wealth Management LLC Purchases 1,220 Shares of Salesforce, Inc. (NYSE:CRM)

Scissortail Wealth Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 10,166.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,232 shares of the CRM provider's stock after acquiring an additional 1,220 shares during the period. Scissortail Wealth Management LLC's holdings in Salesforce were worth $412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in 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 period. Compass Financial Services Inc bought a new position in shares of Salesforce in the 4th quarter worth $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,711 shares in the company, valued at approximately $3,220,525. The trade was a 4.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 458 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,527 shares of company stock worth $14,882,976 in the last ninety days. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRM. Jefferies Financial Group cut their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Stephens started coverage on shares of Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price target on the stock. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a "buy" rating for the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, DA Davidson reissued an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $352.62.

Salesforce Price Performance

NYSE:CRM opened at $291.00 on Friday. The stock has a market capitalization of $279.76 billion, a PE ratio of 47.86, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a fifty day simple moving average of $268.10 and a 200 day simple moving average of $307.03. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

Salesforce Company 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.

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