Navalign LLC Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

Navalign LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,805 shares of the CRM provider’s stock after selling 212 shares during the period. Salesforce accounts for 0.8% of Navalign LLC’s investment portfolio, making the stock its 23rd biggest holding. Navalign LLC’s holdings in Salesforce were worth $2,610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of CRM. Tallon Kerry Patrick purchased a new stake in Salesforce in the fourth quarter valued at approximately $236,000. Pure Financial Advisors LLC raised its position in Salesforce by 50.4% during the fourth quarter. Pure Financial Advisors LLC now owns 1,369 shares of the CRM provider’s stock valued at $458,000 after purchasing an additional 459 shares in the last quarter. ZWJ Investment Counsel Inc. raised its position in Salesforce by 7.5% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 1,036 shares of the CRM provider’s stock valued at $346,000 after purchasing an additional 72 shares in the last quarter. Perpetual Ltd lifted its stake in Salesforce by 14.3% during the fourth quarter. Perpetual Ltd now owns 7,925 shares of the CRM provider’s stock worth $2,650,000 after purchasing an additional 990 shares during the last quarter. Finally, Roberts Wealth Advisors LLC boosted its holdings in shares of Salesforce by 0.7% in the 4th quarter. Roberts Wealth Advisors LLC now owns 11,079 shares of the CRM provider’s stock worth $3,558,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.0%

Shares of CRM opened at $282.35 on Thursday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 company has a market capitalization of $271.45 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The business’s 50 day moving average is $268.53 and its 200 day moving average is $306.85.

Salesforce Increases Dividend

The business 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. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is presently 26.10%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. DA Davidson restated an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Jefferies Financial Group cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Robert W. Baird decreased their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $351.59.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the completion of the purchase, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by corporate insiders.

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.