WealthCollab LLC Purchases 2,237 Shares of Salesforce, Inc. (NYSE:CRM)

WealthCollab LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 354.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,868 shares of the CRM provider's stock after acquiring an additional 2,237 shares during the quarter. WealthCollab LLC's holdings in Salesforce were worth $959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce during the 4th quarter worth $25,000. 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 worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,051 shares of company stock valued at $15,027,714 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of CRM traded up $0.46 during trading hours on Thursday, hitting $269.17. 5,204,423 shares of the company were exchanged, compared to its average volume of 6,818,280. The company has a market cap of $258.78 billion, a price-to-earnings ratio of 44.27, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm's fifty day moving average is $269.95 and its 200 day moving average is $307.67.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio is 26.10%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRM. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. TD Cowen upgraded shares of Salesforce from a "hold" rating to a "buy" rating and upped their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Wells Fargo & Company lowered their price objective on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. DA Davidson restated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research report on Monday, April 21st. Finally, Scotiabank lowered their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. One equities 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's stock. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $350.56.

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.