619 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by NBZ Investment Advisors LLC

NBZ Investment Advisors LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 619 shares of the CRM provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also modified their holdings of CRM. Nvest Financial LLC lifted its holdings in shares of Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD raised its stake in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC grew its holdings in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R David Schmaier sold 1,785 shares of the company’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 sale, the insider now directly owns 29,190 shares in the company, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $277.88 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $267.04 billion, a PE ratio of 45.70, a P/E/G ratio of 2.58 and a beta of 1.35. The business has a fifty day simple moving average of $310.49 and a 200-day simple moving average of $310.51. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued 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 annualized dividend and a dividend yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Scotiabank decreased their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One investment 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $362.74.

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.