643 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Topsail Wealth Management LLC

Topsail Wealth Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 643 shares of the CRM provider’s stock, valued at approximately $215,000.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after purchasing an additional 175,035 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after buying an additional 177,321 shares during the period. Norges Bank purchased a new position in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. Price T Rowe Associates Inc. MD grew its position in shares of Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after buying an additional 1,683,233 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after buying an additional 2,325,156 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Piper Sandler lowered their price target on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday. Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Oppenheimer cut their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. 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. Finally, Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $351.37.

Salesforce Trading Up 1.2 %

NYSE:CRM opened at $267.87 on Friday. The stock has a market capitalization of $257.42 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a fifty day moving average price of $273.75 and a two-hundred day moving average price of $308.27. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is currently 26.10%.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by company insiders.

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.