MV Capital Management Inc. Sells 65 Shares of Salesforce, Inc. (NYSE:CRM)

MV Capital Management Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,205 shares of the CRM provider’s stock after selling 65 shares during the period. MV Capital Management Inc.’s holdings in Salesforce were worth $3,412,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the fourth 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 period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce during the fourth quarter valued at approximately $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the sale, the insider now owns 29,190 shares in the company, valued at $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 three months. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CRM. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price objective 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. Finally, Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Stock Down 2.8 %

NYSE CRM opened at $270.04 on Friday. The stock has a 50 day moving average price of $309.39 and a 200-day moving average price of $310.68. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $259.51 billion, a P/E ratio of 44.42, a P/E/G ratio of 2.58 and a beta of 1.35. 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 Increases Dividend

The firm also recently disclosed 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 a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

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.