Bison Wealth LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

Bison Wealth LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.0% in the 4th quarter, HoldingsChannel reports. The firm owned 2,234 shares of the CRM provider’s stock after buying an additional 184 shares during the quarter. Bison Wealth LLC’s holdings in Salesforce were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter valued at $25,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc bought a new position in Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CRM shares. Canaccord Genuity Group cut their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler cut their price target on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Finally, Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $351.37.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock valued at $15,027,714 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $267.79 on Wednesday. The company has a 50-day simple moving average of $271.56 and a two-hundred day simple moving average of $308.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $257.45 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was 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%.

Salesforce Company 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.