Three Seasons Wealth LLC Makes New $877,000 Investment in Salesforce, Inc. (NYSE:CRM)

Three Seasons Wealth LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,621 shares of the CRM provider’s stock, valued at approximately $877,000.

A number of other large investors also recently modified their holdings of the business. Nvest Financial LLC increased its stake in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD grew its holdings in shares of 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 buying an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of 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 buying an additional 31 shares in the last quarter. Sachetta LLC increased its holdings in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC raised its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

NYSE CRM opened at $264.29 on Friday. The firm has a 50-day moving average price of $274.96 and a two-hundred day moving average price of $308.44. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $253.98 billion, a P/E ratio of 43.47, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors 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. This represents a $1.68 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce’s payout ratio is 26.10%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. DA Davidson reissued an “underperform” rating and set a $200.00 price objective on shares of Salesforce in a research report on Monday. Robert W. Baird cut their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Salesforce from $400.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Morgan Stanley cut their price target 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 assigned a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $351.37.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,051 shares of company stock worth $15,027,714 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.