Lionshead Wealth Management LLC Buys New Stake in Salesforce, Inc. (NYSE:CRM)

Lionshead Wealth Management LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,773 shares of the CRM provider’s stock, valued at approximately $593,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nvest Financial LLC grew its position in shares of Salesforce by 1.1% in 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 during the period. OMC Financial Services LTD lifted its stake in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC lifted its stake in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC raised its stake in Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after buying an additional 32 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRM. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Canaccord Genuity Group reduced their price objective on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. DA Davidson restated an “underperform” rating and set a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.56.

Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 3,937 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 value of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares of the company’s stock, valued at $1,570,312.44. The trade was a 41.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,830 shares of company stock worth $12,907,361. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $275.38 on Monday. The company has a market cap of $264.75 billion, a price-to-earnings ratio of 45.29, a PEG ratio of 2.58 and a beta of 1.42. 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 firm has a 50 day simple moving average of $267.33 and a 200 day simple moving average of $307.36. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio is 26.10%.

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.