Iron Gate Global Advisors LLC Lowers Stake in Salesforce, Inc. (NYSE:CRM)

Iron Gate Global Advisors LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,827 shares of the CRM provider’s stock after selling 89 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Salesforce were worth $611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Main Street Financial Solutions LLC increased its position in Salesforce by 42.0% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,782 shares of the CRM provider’s stock valued at $596,000 after buying an additional 527 shares in the last quarter. Stenger Family Office LLC bought a new stake in Salesforce in the fourth quarter worth $322,000. NFJ Investment Group LLC grew its stake in shares of Salesforce by 19.6% in the fourth quarter. NFJ Investment Group LLC now owns 49,945 shares of the CRM provider’s stock worth $16,698,000 after acquiring an additional 8,186 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Salesforce by 37.3% during the fourth quarter. Evergreen Capital Management LLC now owns 35,179 shares of the CRM provider’s stock valued at $11,776,000 after acquiring an additional 9,552 shares in the last quarter. Finally, Acorns Advisers LLC bought a new position in Salesforce in the 4th quarter worth about $227,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. Loop Capital reduced their price objective on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Redburn Atlantic began coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Jefferies Financial Group decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Monday, March 31st. Wells Fargo & Company cut their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $360.76.

Salesforce Trading Up 0.1 %

Shares of CRM stock opened at $254.77 on Wednesday. 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 stock has a fifty day simple moving average of $285.91 and a two-hundred day simple moving average of $310.16. The firm has a market capitalization of $244.83 billion, a PE ratio of 41.90, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.66%. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction 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 represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated 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 sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,439 shares of company stock valued at $12,043,153. 3.20% of the stock is 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.