Salesforce, Inc. (NYSE:CRM) Holdings Increased by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. increased its stake in Salesforce, Inc. (NYSE:CRM) by 83.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,500 shares of the CRM provider’s stock after acquiring an additional 2,500 shares during the period. Inspire Trust Co. N.A.’s holdings in Salesforce were worth $1,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth about $30,000. Finally, Asset Planning Inc bought a new stake in Salesforce in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 2.0%

NYSE CRM opened at $282.35 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm’s fifty day simple moving average is $268.53 and its 200-day simple moving average is $306.85. The company has a market capitalization of $271.45 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio is presently 26.10%.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This represents a 7.24% 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 valued at $12,841,368. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CRM has been the subject of several research reports. Piper Sandler reduced their price objective on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Stephens assumed coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price for the company. Cantor Fitzgerald began coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 price target on the stock. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Loop Capital decreased their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $351.59.

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.