Coign Capital Advisors LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Coign Capital Advisors LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel reports. The firm acquired 2,146 shares of the CRM provider’s stock, valued at approximately $718,000.

A number of other institutional investors also recently modified their holdings of the stock. Heritage Trust Co bought a new stake in Salesforce in the fourth quarter valued at $2,209,000. Jaffetilchin Investment Partners LLC grew its stake in shares of Salesforce by 6.3% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 4,389 shares of the CRM provider’s stock valued at $1,467,000 after buying an additional 261 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at about $272,000. Argent Trust Co increased its position in Salesforce by 5.8% in the 4th quarter. Argent Trust Co now owns 21,525 shares of the CRM provider’s stock valued at $7,196,000 after buying an additional 1,189 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in Salesforce by 3.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 6,555 shares of the CRM provider’s stock worth $2,192,000 after acquiring an additional 188 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % 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 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 3.9 %

Salesforce stock opened at $254.87 on Friday. The firm has a 50 day simple moving average of $291.07 and a 200 day simple moving average of $310.59. 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 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market capitalization of $244.93 billion, a price-to-earnings ratio of 41.92, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. Salesforce’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Guggenheim reaffirmed a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. BMO Capital Markets reiterated an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

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.