Salesforce, Inc. (NYSE:CRM) Shares Acquired by Visionary Wealth Advisors

Visionary Wealth Advisors raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,666 shares of the CRM provider’s stock after acquiring an additional 427 shares during the period. Visionary Wealth Advisors’ holdings in Salesforce were worth $1,226,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRM. Regent Peak Wealth Advisors LLC grew its holdings in shares of Salesforce by 3.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock valued at $818,000 after purchasing an additional 84 shares in the last quarter. Tallon Kerry Patrick acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $236,000. Ameritas Advisory Services LLC grew its holdings in shares of Salesforce by 0.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 7,588 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 64 shares in the last quarter. Oak Ridge Investments LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $683,000. Finally, Artemis Investment Management LLP acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $15,117,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.4%

Shares of Salesforce stock opened at $287.03 on Tuesday. The company has a market cap of $275.95 billion, a P/E ratio of 47.21, a PEG ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a fifty day moving average of $268.15 and a two-hundred day moving average of $307.16.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders 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 represents a $1.68 dividend on an annualized basis and a yield of 0.59%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,306 shares of company stock worth $12,841,368. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRM. Westpark Capital restated a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price target 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. Morgan Stanley lowered their price target on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $352.62.

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.