Grant Private Wealth Management Inc Takes Position in Salesforce, Inc. (NYSE:CRM)

Grant Private Wealth Management Inc purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,622 shares of the CRM provider’s stock, valued at approximately $1,211,000. Salesforce accounts for about 1.3% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds also recently bought and sold shares of CRM. Arlington Trust Co LLC raised its stake 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 worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in Salesforce in the 4th quarter worth $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter worth $31,000. Collier Financial purchased a new position in Salesforce during the fourth quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, insider Parker Harris sold 652 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lowered their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.42.

Salesforce Price Performance

CRM stock opened at $272.06 on Thursday. The business’s fifty day moving average price is $305.91 and its 200 day moving average price is $311.50. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $261.45 billion, a PE ratio of 44.75, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. The ex-dividend date is 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 0.62%. Salesforce’s dividend payout ratio is 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.