Okabena Investment Services Inc. Purchases 994 Shares of Salesforce, Inc. (NYSE:CRM)

Okabena Investment Services Inc. boosted its position in Salesforce, Inc. (NYSE:CRM) by 14.2% during the 4th quarter, Holdings Channel reports. The fund owned 8,013 shares of the CRM provider’s stock after buying an additional 994 shares during the period. Salesforce makes up 0.7% of Okabena Investment Services Inc.’s portfolio, making the stock its 25th largest holding. Okabena Investment Services Inc.’s holdings in Salesforce were worth $2,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Foundations Investment Advisors LLC lifted its position in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in shares of Salesforce during the third quarter valued at approximately $1,215,000. Athena Investment Management bought a new stake in Salesforce during the fourth quarter worth $236,000. Highland Capital Management LLC purchased a new stake in Salesforce in the 4th quarter valued at $4,321,000. Finally, Geode Capital Management LLC lifted its stake in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on 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 approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 2.8 %

Shares of NYSE:CRM opened at $270.04 on Friday. The company has a market cap of $259.51 billion, a P/E ratio of 44.42, a PEG ratio of 2.58 and a beta of 1.35. The stock’s fifty day moving average price is $309.39 and its 200-day moving average price is $310.68. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce’s dividend payout ratio is 25.16%.

Analysts Set New Price Targets

Several analysts have recently commented on CRM shares. Citigroup reiterated a “buy” rating on shares of Salesforce in a report on Wednesday, March 19th. Loop Capital decreased 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. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reissued an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $362.74.

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.