Seven Mile Advisory Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Seven Mile Advisory increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,762 shares of the CRM provider’s stock after purchasing an additional 39 shares during the quarter. Seven Mile Advisory’s holdings in Salesforce were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC boosted 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 worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter valued at about $31,000. Collier Financial acquired a new position in shares of Salesforce during the 4th quarter valued at about $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Salesforce during the 4th quarter worth about $35,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Parker Harris sold 3,273 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the sale, the insider now directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. This trade represents a 2.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce 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 owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74 % 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 worth $14,095,336. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CRM shares. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Canaccord Genuity Group cut their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. One 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Salesforce Trading Down 2.8 %

Shares of NYSE:CRM opened at $270.04 on Monday. The firm has a market cap of $259.51 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company’s fifty day simple moving average is $309.39 and its 200 day simple moving average is $311.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The firm 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 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. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio 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.