FWL Investment Management LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

FWL Investment Management LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 32.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 410 shares of the CRM provider’s stock after acquiring an additional 100 shares during the quarter. FWL Investment Management LLC’s holdings in Salesforce were worth $137,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the fourth 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 fourth quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in Salesforce during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 1.8 %

CRM opened at $278.22 on Thursday. The company has a market cap of $267.48 billion, a P/E ratio of 45.76, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50-day simple moving average is $267.83 and its 200-day simple moving average is $307.23.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors 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 0.60%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Cantor Fitzgerald assumed coverage on Salesforce in a research note on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $400.00 price target on shares of Salesforce in a research report on Friday, April 25th. Finally, Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This represents a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock worth $12,907,361 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.