Glen Eagle Advisors LLC Buys 476 Shares of Salesforce, Inc. (NYSE:CRM)

Glen Eagle Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 5,159 shares of the CRM provider’s stock after acquiring an additional 476 shares during the period. Glen Eagle Advisors LLC’s holdings in Salesforce were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce during the 4th quarter valued at $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 grew its position 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 valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company’s stock, 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. Over the last three months, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRM shares. Stephens began coverage on shares of Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Bank of America dropped their target price 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. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 target price on shares of Salesforce in a report on Friday, April 25th. Finally, Cantor Fitzgerald began coverage on shares of Salesforce in a report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $352.62.

Salesforce Price Performance

NYSE CRM opened at $287.64 on Wednesday. The firm’s fifty day simple moving average is $268.48 and its two-hundred day simple moving average is $307.02. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $276.53 billion, a P/E ratio of 47.31, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. Salesforce’s payout ratio is currently 26.10%.

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.