Kolinsky Wealth Management LLC Has $517,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Kolinsky Wealth Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,546 shares of the CRM provider’s stock after acquiring an additional 186 shares during the period. Kolinsky Wealth Management LLC’s holdings in Salesforce were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nvest Financial LLC lifted its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its position in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC increased its position in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its position in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased 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. Westpark Capital restated a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, April 30th. Oppenheimer reduced their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given 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 data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $352.62.

Salesforce Trading Up 0.0%

CRM opened at $287.64 on Wednesday. The firm has a 50-day moving average price of $268.48 and a two-hundred day moving average price of $307.02. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market capitalization of $276.53 billion, a PE ratio of 47.31, a PEG 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, April 10th. 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 at Salesforce

In other news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on 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 transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 3,273 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the transaction, the insider now owns 125,146 shares of the company’s stock, valued at approximately $35,614,048.68. This represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock valued at $12,841,368 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.