Wedbush Securities Inc. Sells 956 Shares of Salesforce, Inc. (NYSE:CRM)

Wedbush Securities Inc. lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 28,898 shares of the CRM provider’s stock after selling 956 shares during the period. Wedbush Securities Inc.’s holdings in Salesforce were worth $9,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Nvest Financial LLC raised its holdings in shares of Salesforce by 1.1% in the 4th 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 increased its holdings in Salesforce by 0.3% during the fourth 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 raised its stake in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC lifted its holdings in Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its position in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $240.26 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market cap of $230.89 billion, a PE ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. The stock has a 50 day moving average price of $302.46 and a 200 day moving average price of $311.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.70%. Salesforce’s dividend payout ratio is 26.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 27th. Scotiabank decreased their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Robert W. Baird decreased their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Finally, Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $361.42.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’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 $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by company insiders.

Salesforce 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.