Western Wealth Management LLC Has $942,000 Position in Salesforce, Inc. (NYSE:CRM)

Western Wealth Management LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 78.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,817 shares of the CRM provider’s stock after selling 10,101 shares during the quarter. Western Wealth Management LLC’s holdings in Salesforce were worth $942,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vega Investment Solutions acquired a new position in Salesforce during the fourth quarter worth $4,641,000. Strait & Sound Wealth Management LLC raised its stake in Salesforce by 1.9% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 3,119 shares of the CRM provider’s stock worth $1,043,000 after acquiring an additional 59 shares in the last quarter. Helium Advisors LLC bought a new stake in shares of Salesforce during the fourth quarter worth $362,000. GTS Securities LLC grew its holdings in shares of Salesforce by 129.7% during the fourth quarter. GTS Securities LLC now owns 7,450 shares of the CRM provider’s stock worth $2,491,000 after purchasing an additional 32,550 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Salesforce during the fourth quarter worth $162,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 6,697 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider now owns 41,422 shares of the company’s stock, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,306 shares of company stock valued at $12,841,368 over the last 90 days. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Stephens initiated coverage on Salesforce in a report on Wednesday, March 19th. They set an “equal weight” rating and a $311.00 target price on the stock. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer decreased their target price on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $352.36.

Salesforce Trading Up 0.3%

NYSE CRM opened at $283.08 on Friday. The firm has a market cap of $272.15 billion, a P/E ratio of 46.56, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50-day moving average is $268.58 and its 200-day moving average is $306.75. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 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.