Copley Financial Group Inc. Sells 251 Shares of Salesforce, Inc. (NYSE:CRM)

Copley Financial Group Inc. trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 14.8% during the 4th quarter, Holdings Channel reports. The fund owned 1,442 shares of the CRM provider’s stock after selling 251 shares during the period. Copley Financial Group Inc.’s holdings in Salesforce were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter valued at about $31,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 3.7%

CRM stock opened at $273.05 on Tuesday. The firm’s 50 day moving average price is $268.33 and its 200-day moving average price is $306.20. 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 firm has a market cap of $262.51 billion, a PE ratio of 44.91, 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.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders 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 is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is currently 26.10%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRM shares. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating on the stock. Wells Fargo & Company dropped their target price on Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Mizuho dropped their price objective on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Finally, Citigroup cut their price objective on shares of Salesforce from $335.00 to $320.00 and set a “neutral” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $351.59.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares of the company’s stock, valued at $3,220,525. This trade represents a 4.09% 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, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred 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 $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is currently owned by 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.