ORG Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,692 shares of the CRM provider’s stock after purchasing an additional 189 shares during the quarter. ORG Partners LLC’s holdings in Salesforce were worth $1,235,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth about $27,000. Clear Investment Research LLC grew its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth approximately $33,000. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC boosted its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. 80.43% of the stock is owned by institutional investors.
Salesforce Stock Down 2.5 %
Shares of Salesforce stock traded down $8.12 during trading on Friday, reaching $318.78. The stock had a trading volume of 2,268,347 shares, compared to its average volume of 4,175,304. 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 has a market capitalization of $305.07 billion, a price-to-earnings ratio of 52.43, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a fifty day moving average price of $335.36 and a two-hundred day moving average price of $288.53.
Salesforce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.
Insider Activity at Salesforce
In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
CRM has been the subject of a number of recent analyst reports. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Scotiabank increased their price objective on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. TD Cowen boosted their target price on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group upped their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.
Read Our Latest Stock Report on CRM
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.
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