Frazier Financial Advisors LLC Sells 119 Shares of Salesforce, Inc. (NYSE:CRM)

Frazier Financial Advisors LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 22.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420 shares of the CRM provider’s stock after selling 119 shares during the period. Frazier Financial Advisors LLC’s holdings in Salesforce were worth $141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at about $27,000. Arlington Trust Co LLC grew 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 buying an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Macquarie reiterated a “neutral” rating and issued a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $362.74.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value 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 represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 1.1 %

Shares of NYSE:CRM opened at $277.88 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $310.49 and a two-hundred day simple moving average of $310.51. 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 $267.04 billion, a PE ratio of 45.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

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 issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is presently 25.16%.

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.