808 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Maridea Wealth Management LLC

Maridea Wealth Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 808 shares of the CRM provider’s stock, valued at approximately $270,000.

Other large investors have also recently bought and sold shares of the company. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Collier Financial bought a new stake in shares of Salesforce in the 4th quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new position in shares of Salesforce during the 4th quarter valued at $35,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $270.04 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock’s 50-day simple moving average is $309.39 and its 200 day simple moving average is $311.13. 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 stock has a market capitalization of $259.51 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. 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 dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Scotiabank reduced their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. DA Davidson dropped their price target on Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Robert W. Baird reduced their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.74.

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.