FWL Investment Management LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

FWL Investment Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410 shares of the CRM provider’s stock after purchasing an additional 100 shares during the quarter. FWL Investment Management LLC’s holdings in Salesforce were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Norges Bank bought a new position in shares of Salesforce in the fourth quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. bought a new position in Salesforce in the 4th quarter worth approximately $1,173,564,000. Invesco Ltd. grew its holdings in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after buying an additional 1,736,667 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRM shares. Canaccord Genuity Group cut their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Piper Sandler reduced their target price on Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Stephens started coverage on Salesforce in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $350.56.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. The trade was a 14.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin L. Washington purchased 1,695 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 45,830 shares of company stock valued at $12,907,361 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.8 %

Shares of NYSE:CRM opened at $278.22 on Thursday. The company has a market capitalization of $267.48 billion, a PE ratio of 45.76, a P/E/G ratio of 2.58 and a beta of 1.42. 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 12-month low of $212.00 and a 12-month high of $369.00. The business’s fifty day simple moving average is $267.83 and its 200-day simple moving average is $307.23.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued 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 0.60%. The ex-dividend date was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) 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.