Dogwood Wealth Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Dogwood Wealth Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,248 shares of the CRM provider’s stock, valued at approximately $752,000.

A number of other large investors have also made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC grew its position 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 valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total value of $1,872,521.00. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $14,071,750. This trade represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $3,220,525. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,553 shares of company stock worth $12,897,323. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 3.7%

Shares of NYSE CRM opened at $273.05 on Tuesday. The stock has a market cap of $262.51 billion, a P/E ratio of 44.91, a PEG ratio of 2.58 and a beta of 1.42. 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 business’s fifty day simple moving average is $268.33 and its 200-day simple moving average is $306.20.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. DA Davidson reiterated an “underperform” rating and issued a $200.00 price objective on shares of Salesforce in a research report on Monday, April 21st. Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research report on Wednesday, March 19th. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective for the company. Finally, Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $351.59.

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.