Salesforce, Inc. (NYSE:CRM) Shares Bought by Peterson Wealth Management

Peterson Wealth Management raised its position in Salesforce, Inc. (NYSE:CRM) by 4.9% during the fourth quarter, HoldingsChannel reports. The firm owned 7,725 shares of the CRM provider’s stock after buying an additional 362 shares during the quarter. Salesforce accounts for 1.5% of Peterson Wealth Management’s holdings, making the stock its 24th biggest position. Peterson Wealth Management’s holdings in Salesforce were worth $2,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CRM. Invst LLC increased its holdings in shares of Salesforce by 4.2% in the 3rd quarter. Invst LLC now owns 17,003 shares of the CRM provider’s stock valued at $4,654,000 after purchasing an additional 685 shares in the last quarter. Passumpsic Savings Bank lifted its stake in shares of Salesforce by 1.2% during the 3rd quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider’s stock worth $2,007,000 after purchasing an additional 87 shares during the period. Anchor Investment Management LLC lifted its stake in shares of Salesforce by 15.7% during the 3rd quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider’s stock worth $1,174,000 after purchasing an additional 581 shares during the period. Pine Valley Investments Ltd Liability Co raised its position in shares of Salesforce by 14.0% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider’s stock worth $1,930,000 after buying an additional 866 shares during the period. Finally, World Investment Advisors LLC raised its position in shares of Salesforce by 570.4% in the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider’s stock worth $14,903,000 after buying an additional 46,324 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.3 %

Shares of CRM stock opened at $268.46 on Thursday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $258.09 billion, a price-to-earnings ratio of 44.15, a P/E/G ratio of 2.58 and a beta of 1.38. 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 firm has a fifty day moving average of $270.74 and a 200-day moving average of $307.83.

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. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is currently 26.10%.

Insider Activity

In other Salesforce news, Director Robin L. Washington bought 1,695 shares of Salesforce stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Canaccord Genuity Group cut their price objective on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Scotiabank dropped their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Piper Sandler decreased their target price on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.56.

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.