Insigneo Advisory Services LLC Decreases Position in Salesforce, Inc. (NYSE:CRM)

Insigneo Advisory Services LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,279 shares of the CRM provider’s stock after selling 683 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Salesforce were worth $3,102,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the 4th quarter worth $25,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter worth $30,000. Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank decreased their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Guggenheim reissued a “sell” rating and issued a $247.00 target price on shares of Salesforce in a report on Thursday, February 27th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Macquarie reaffirmed a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $360.76.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now directly owns 29,190 shares of the company’s stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Oscar Munoz bought 3,882 shares of Salesforce stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the transaction, the director now owns 11,843 shares of the company’s stock, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 39,439 shares of company stock worth $12,043,153. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 0.1 %

CRM stock opened at $254.77 on Wednesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50 day moving average price of $285.91 and a two-hundred day moving average price of $310.16. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $244.83 billion, a P/E ratio of 41.90, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.66%. Salesforce’s payout ratio is 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.