EPG Wealth Management LLC Sells 443 Shares of Salesforce, Inc. (NYSE:CRM)

EPG Wealth Management LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,253 shares of the CRM provider’s stock after selling 443 shares during the quarter. EPG Wealth Management LLC’s holdings in Salesforce were worth $2,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth about $27,000. Arlington Trust Co LLC boosted its holdings in 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 during the period. Compass Financial Services Inc purchased a new position in Salesforce in the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new stake in Salesforce during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the 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 of the company’s stock, valued at $3,218,599.80. This represents a 14.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,830 shares of company stock worth $12,907,361 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $273.65 on Wednesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $263.08 billion, a P/E ratio of 45.01, a P/E/G 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. The business has a fifty day simple moving average of $268.22 and a two-hundred day simple moving average of $307.43.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.61%. 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%.

Analyst Ratings Changes

A number of analysts recently issued reports on CRM shares. Citigroup reissued a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Redburn Atlantic started coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Piper Sandler dropped their price target on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. One equities research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $350.56.

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.