Salesforce, Inc. (NYSE:CRM) Shares Acquired by OV Management LLC

OV Management LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,822 shares of the CRM provider’s stock after acquiring an additional 665 shares during the period. Salesforce accounts for approximately 1.8% of OV Management LLC’s investment portfolio, making the stock its 13th biggest holding. OV Management LLC’s holdings in Salesforce were worth $3,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter valued at $31,000. Collier Financial purchased a new stake in Salesforce in the fourth quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Salesforce in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. DA Davidson dropped their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Piper Sandler reiterated an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company cut their target price on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock valued at $14,095,336. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $268.05 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $257.60 billion, a PE ratio of 44.09, a P/E/G ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a fifty day moving average price of $308.26 and a 200 day moving average price of $311.67.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce’s payout ratio is currently 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.