Orion Capital Management LLC Trims Stake in Salesforce, Inc. (NYSE:CRM)

Orion Capital Management LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,813 shares of the CRM provider’s stock after selling 81 shares during the period. Orion Capital Management LLC’s holdings in Salesforce were worth $1,609,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC boosted its position 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 purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc bought a new position in Salesforce during the 4th quarter valued at approximately $31,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $287.64 on Wednesday. The company has a market capitalization of $276.53 billion, a P/E ratio of 47.31, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm’s 50 day simple moving average is $268.48 and its two-hundred day simple moving average is $307.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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 dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 458 shares of the business’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 transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,306 shares of company stock worth $12,841,368. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut their target price on Salesforce from $310.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price target for the company. Finally, Oppenheimer lowered their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $352.62.

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.