Salesforce, Inc. (NYSE:CRM) Shares Bought by Shorepoint Capital Partners LLC

Shorepoint Capital Partners LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.1% during the 4th quarter, Holdings Channel reports. The fund owned 8,665 shares of the CRM provider’s stock after buying an additional 261 shares during the quarter. Shorepoint Capital Partners LLC’s holdings in Salesforce were worth $2,897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth $25,000. Arlington Trust Co LLC increased its position in shares of Salesforce by 85.1% during the fourth 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 last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at approximately $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. In the last three months, insiders sold 52,051 shares of company stock valued at $15,027,714. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Canaccord Genuity Group lowered their target price on Salesforce from $415.00 to $400.00 and set a “buy” 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 research report on Friday. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Finally, Scotiabank dropped their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $351.37.

Salesforce Price Performance

CRM stock opened at $267.87 on Friday. The firm has a market cap of $257.42 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a 50-day simple moving average of $273.75 and a 200-day simple moving average of $308.41.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. 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 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

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.