LifeWealth Investments LLC Acquires New Holdings in Salesforce, Inc. (NYSE:CRM)

LifeWealth Investments LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 917 shares of the CRM provider’s stock, valued at approximately $307,000.

Several other institutional investors also recently bought and sold shares of the business. LM Advisors LLC increased its holdings in Salesforce by 13.0% during the fourth quarter. LM Advisors LLC now owns 17,378 shares of the CRM provider’s stock valued at $5,817,000 after buying an additional 2,005 shares during the period. Heck Capital Advisors LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $134,000. Leigh Baldwin & CO. LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $425,000. Integrated Advisors Network LLC boosted its stake in Salesforce by 0.5% in the fourth quarter. Integrated Advisors Network LLC now owns 11,511 shares of the CRM provider’s stock valued at $3,849,000 after acquiring an additional 60 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $362,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRM. Stephens began coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Westpark Capital restated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a research note on Wednesday, April 30th. Morgan Stanley lowered their target price on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson restated an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.59.

Salesforce Stock Down 3.7%

CRM opened at $273.05 on Monday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week 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 company has a fifty day moving average of $268.46 and a two-hundred day moving average of $306.55. The stock has a market capitalization of $262.51 billion, a price-to-earnings ratio of 44.91, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently disclosed 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 boost from Salesforce’s previous quarterly dividend of $0.40. 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 0.62%. Salesforce’s payout ratio is presently 26.10%.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 3,273 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now directly owns 125,146 shares of the company’s stock, valued at approximately $35,614,048.68. This trade represents a 2.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the completion of the transaction, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,553 shares of company stock valued at $12,897,323. Corporate insiders own 3.20% of the company’s stock.

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.