Helium Advisors LLC Invests $362,000 in Salesforce, Inc. (NYSE:CRM)

Helium Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,082 shares of the CRM provider’s stock, valued at approximately $362,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Tallon Kerry Patrick bought a new stake in Salesforce during the 4th quarter valued at $236,000. MCF Advisors LLC raised its position in Salesforce by 63.8% during the 4th quarter. MCF Advisors LLC now owns 231 shares of the CRM provider’s stock valued at $77,000 after purchasing an additional 90 shares in the last quarter. Beaumont Financial Advisors LLC raised its position in Salesforce by 18.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,384 shares of the CRM provider’s stock valued at $797,000 after purchasing an additional 364 shares in the last quarter. Sheets Smith Wealth Management raised its position in Salesforce by 3.9% during the 4th quarter. Sheets Smith Wealth Management now owns 1,334 shares of the CRM provider’s stock valued at $446,000 after purchasing an additional 50 shares in the last quarter. Finally, Advisory Alpha LLC raised its position in Salesforce by 9.1% during the 4th quarter. Advisory Alpha LLC now owns 2,457 shares of the CRM provider’s stock valued at $822,000 after purchasing an additional 205 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $283.08 on Friday. The stock has a 50-day simple moving average of $268.58 and a two-hundred day simple moving average of $306.75. The firm has a market capitalization of $272.15 billion, a P/E ratio of 46.56, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R David Schmaier sold 6,959 shares of Salesforce 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 of the company’s stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,306 shares of company stock worth $12,841,368. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRM. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Stifel Nicolaus cut their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Bank of America cut their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Scotiabank cut their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $352.36.

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.