Safeguard Investment Advisory Group LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Safeguard Investment Advisory Group LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 898 shares of the CRM provider’s stock after selling 38 shares during the quarter. Safeguard Investment Advisory Group LLC’s holdings in Salesforce were worth $300,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth $27,000. Arlington Trust Co LLC raised 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 acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter valued at about $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce in the fourth quarter valued at about $31,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Loop Capital cut their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Stephens started coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Finally, Cantor Fitzgerald initiated coverage on Salesforce in a report on Wednesday, April 23rd. They set an “overweight” rating and a $210.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $352.62.

Insider Buying and Selling

In other news, insider Srinivas Tallapragada sold 6,697 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,527 shares of company stock valued at $14,882,976. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $291.00 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $279.76 billion, a PE ratio of 47.86, a P/E/G ratio of 2.58 and a beta of 1.42. The firm’s 50 day moving average price is $268.10 and its 200-day moving average price is $307.03. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.58%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio is presently 26.10%.

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.