Salesforce, Inc. (NYSE:CRM) Shares Purchased by Visionary Wealth Advisors

Visionary Wealth Advisors boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 13.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,666 shares of the CRM provider’s stock after acquiring an additional 427 shares during the period. Visionary Wealth Advisors’ holdings in Salesforce were worth $1,226,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $27,000. Arlington Trust Co LLC boosted its stake in shares of 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $31,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now owns 36,090 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,306 shares of company stock worth $12,841,368 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.4%

CRM opened at $287.03 on Tuesday. The firm has a market capitalization of $275.95 billion, a P/E ratio of 47.21, a P/E/G ratio of 2.58 and a beta of 1.42. The firm’s 50 day moving average is $268.15 and its 200-day moving average is $307.16. Salesforce, Inc. has a 52-week low of $212.00 and a 52-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.

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 paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRM. Mizuho lowered their price target on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Bank of America lowered their price target on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. 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, April 23rd. Stephens began coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price target for the company. Finally, Cantor Fitzgerald began coverage on shares of Salesforce in a report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price target for the company. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.62.

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.