Sulzberger Capital Advisors Inc. Invests $426,000 in Salesforce, Inc. (NYSE:CRM)

Sulzberger Capital Advisors Inc. acquired a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,275 shares of the CRM provider’s stock, valued at approximately $426,000.

A number of other institutional investors have also recently made changes to their positions in CRM. Rehmann Capital Advisory Group lifted its position in Salesforce by 1.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 5,845 shares of the CRM provider’s stock worth $1,954,000 after acquiring an additional 62 shares during the period. Bison Wealth LLC grew its holdings in Salesforce by 9.0% during the fourth quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after acquiring an additional 184 shares during the period. Triumph Capital Management purchased a new position in Salesforce during the fourth quarter valued at approximately $657,000. WealthCollab LLC boosted its position in Salesforce by 354.5% in the 4th quarter. WealthCollab LLC now owns 2,868 shares of the CRM provider’s stock worth $959,000 after purchasing an additional 2,237 shares in the last quarter. Finally, Kitching Partners LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $216,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This trade represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,051 shares of company stock valued at $15,027,714 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CRM shares. Westpark Capital reaffirmed a “buy” rating and set a $320.00 price objective on shares of Salesforce in a research note on Wednesday. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Robert W. Baird dropped their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Morgan Stanley decreased their price objective on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $350.56.

Salesforce Stock Up 0.3 %

Salesforce stock opened at $268.46 on Thursday. The company’s 50 day simple moving average is $270.74 and its 200 day simple moving average is $307.83. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $258.09 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio is presently 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.