Gen Wealth Partners Inc Cuts Holdings in Salesforce, Inc. (NYSE:CRM)

Gen Wealth Partners Inc reduced its position in Salesforce, Inc. (NYSE:CRM) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,826 shares of the CRM provider’s stock after selling 114 shares during the period. Gen Wealth Partners Inc’s holdings in Salesforce were worth $1,279,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CRM shares. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Friday, April 25th. Macquarie reissued a “neutral” rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Citigroup restated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their target price on shares of Salesforce from $310.00 to $255.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $350.56.

Salesforce Price Performance

CRM opened at $275.38 on Friday. The firm has a market capitalization of $264.75 billion, a PE ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. 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 business’s 50-day moving average is $267.33 and its two-hundred day moving average is $307.06. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is presently 26.10%.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock worth $12,907,361 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.