Salesforce, Inc. (NYSE:CRM) Position Reduced by FSA Wealth Management LLC

FSA Wealth Management LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 51.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 93 shares of the CRM provider’s stock after selling 99 shares during the quarter. FSA Wealth Management LLC’s holdings in Salesforce were worth $31,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Invst LLC raised its position in shares of Salesforce by 4.2% during the third quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock worth $4,654,000 after purchasing an additional 685 shares during the period. Passumpsic Savings Bank boosted its position in shares of Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock worth $2,007,000 after buying an additional 87 shares during the period. Anchor Investment Management LLC raised its position in Salesforce by 15.7% during the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock valued at $1,174,000 after buying an additional 581 shares during the period. Pine Valley Investments Ltd Liability Co boosted its position in Salesforce by 14.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after acquiring an additional 866 shares during the period. Finally, World Investment Advisors LLC increased its holdings in shares of Salesforce by 570.4% in the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock valued at $14,903,000 after purchasing an additional 46,324 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,534,090. The trade was a 1.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,654 shares of company stock valued at $14,124,094. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Jefferies Financial Group reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Finally, Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $358.97.

Salesforce Stock Down 4.5 %

CRM stock opened at $236.05 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $279.43 and its 200 day moving average is $309.44. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $226.84 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth 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 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 yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) 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.