Anchor Investment Management LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Anchor Investment Management LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 11.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,804 shares of the CRM provider’s stock after selling 486 shares during the quarter. Anchor Investment Management LLC’s holdings in Salesforce were worth $1,272,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Stephens started coverage on Salesforce in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 price objective for the company. Finally, Bank of America reduced their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $360.76.

Salesforce Trading Up 0.1 %

NYSE CRM opened at $254.77 on Wednesday. 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 one year low of $212.00 and a one year high of $369.00. The company has a 50-day simple moving average of $285.91 and a 200-day simple moving average of $310.16. The firm has a market capitalization of $244.83 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, April 10th. Salesforce’s payout ratio is presently 26.10%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This represents a 7.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $298,055.16. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,439 shares of company stock valued at $12,043,153. 3.20% of the stock is currently owned by insiders.

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.