Salesforce, Inc. (NYSE:CRM) Shares Bought by Elgethun Capital Management

Elgethun Capital Management increased its position in Salesforce, Inc. (NYSE:CRM) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,144 shares of the CRM provider’s stock after acquiring an additional 145 shares during the period. Elgethun Capital Management’s holdings in Salesforce were worth $382,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have commented on CRM. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research note on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Robert W. Baird lowered 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Trading Down 5.9 %

Shares of NYSE:CRM opened at $240.26 on Monday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $230.89 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.58 and a beta of 1.38. The stock’s 50-day moving average is $302.46 and its 200-day moving average is $311.80.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued 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 dividend yield of 0.70%. Salesforce’s payout ratio is 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $298,055.16. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,534,090. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,660 shares of company stock worth $14,095,336. Insiders own 3.20% of the company’s stock.

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.