FSA Wealth Management LLC Sells 99 Shares of Salesforce, Inc. (NYSE:CRM)

FSA Wealth Management LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 51.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 93 shares of the CRM provider’s stock after selling 99 shares during the period. FSA Wealth Management LLC’s holdings in Salesforce were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter worth approximately $25,000. Arlington Trust Co LLC lifted its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the fourth quarter valued at about $32,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,256 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the transaction, the chief accounting officer now owns 12,826 shares of the company’s stock, valued at $3,248,954.06. This represents a 8.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 652 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock valued at $14,124,094 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Trading Down 4.5 %

Shares of CRM stock opened at $236.05 on Tuesday. The firm’s fifty day simple moving average is $279.43 and its 200 day simple moving average is $309.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $226.84 billion, a P/E ratio of 38.82, a price-to-earnings-growth 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 firm also recently declared 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 represents a $1.68 annualized dividend and a yield of 0.71%. 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 26.10%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Morgan Stanley dropped their target price on Salesforce from $405.00 to $393.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Stifel Nicolaus cut their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $358.97.

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.