Waverly Advisors LLC Has $5.45 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Waverly Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 62.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,314 shares of the CRM provider’s stock after acquiring an additional 6,258 shares during the period. Waverly Advisors LLC’s holdings in Salesforce were worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Whale Rock Capital Management LLC boosted its position in shares of Salesforce by 264.5% during the 4th quarter. Whale Rock Capital Management LLC now owns 826,614 shares of the CRM provider’s stock worth $276,362,000 after acquiring an additional 599,849 shares in the last quarter. Whelan Financial acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $295,000. Williams Jones Wealth Management LLC. boosted its position in shares of Salesforce by 4.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 2,507 shares of the CRM provider’s stock worth $838,000 after acquiring an additional 117 shares in the last quarter. Woodline Partners LP boosted its position in shares of Salesforce by 19,437.4% during the 4th quarter. Woodline Partners LP now owns 169,780 shares of the CRM provider’s stock worth $56,763,000 after acquiring an additional 168,911 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its position in shares of Salesforce by 110.9% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 562,125 shares of the CRM provider’s stock worth $187,935,000 after acquiring an additional 295,554 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company’s stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock valued at $12,841,368 over the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRM. 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 target on the stock. Stifel Nicolaus reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Piper Sandler cut their target price on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Westpark Capital restated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, April 30th. Finally, Loop Capital cut their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $352.62.

Salesforce Price Performance

Shares of NYSE:CRM opened at $287.64 on Wednesday. The firm has a market cap of $276.53 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm’s fifty day moving average is $268.48 and its 200-day moving average is $307.02. 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 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 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.