Legacy Financial Advisors Inc. Purchases 188 Shares of Salesforce, Inc. (NYSE:CRM)

Legacy Financial Advisors Inc. grew its position in Salesforce, Inc. (NYSE:CRM) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,555 shares of the CRM provider’s stock after purchasing an additional 188 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Salesforce were worth $2,192,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at about $169,000. Bank of Hawaii grew its stake in Salesforce by 5.2% in the 4th quarter. Bank of Hawaii now owns 4,397 shares of the CRM provider’s stock worth $1,470,000 after buying an additional 218 shares in the last quarter. Scotia Capital Inc. grew its stake in Salesforce by 12.5% in the 4th quarter. Scotia Capital Inc. now owns 166,795 shares of the CRM provider’s stock worth $55,768,000 after buying an additional 18,525 shares in the last quarter. Phoenix Financial Ltd. lifted its holdings in shares of Salesforce by 39.5% in the 4th quarter. Phoenix Financial Ltd. now owns 37,174 shares of the CRM provider’s stock worth $12,435,000 after acquiring an additional 10,520 shares during the last quarter. Finally, F M Investments LLC lifted its holdings in shares of Salesforce by 259.9% in the 4th quarter. F M Investments LLC now owns 23,886 shares of the CRM provider’s stock worth $7,986,000 after acquiring an additional 17,250 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Wedbush restated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Redburn Atlantic started coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Bank of America cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler reissued an “overweight” rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $361.42.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Oscar Munoz bought 3,882 shares of Salesforce stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the acquisition, the director now owns 11,843 shares in the company, valued at $3,046,967.04. This represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 8.7 %

Shares of CRM stock opened at $265.32 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $292.76 and a 200-day simple moving average of $310.70. The company has a market cap of $254.97 billion, a price-to-earnings ratio of 43.64, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is presently 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.