Lokken Investment Group LLC Has $1.20 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Lokken Investment Group LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,593 shares of the CRM provider’s stock after purchasing an additional 60 shares during the period. Lokken Investment Group LLC’s holdings in Salesforce were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during 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 acquired a new position in shares of Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the 4th quarter worth $31,000. Collier Financial bought a new position in shares of Salesforce in the 4th quarter worth $32,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Salesforce in the 4th quarter valued at $35,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CRM shares. JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Jefferies Financial Group cut their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. One equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $361.42.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, 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 through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 0.7 %

Salesforce stock opened at $268.05 on Tuesday. The firm has a 50 day simple moving average of $308.26 and a 200 day simple moving average of $311.67. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market capitalization of $257.60 billion, a price-to-earnings ratio of 44.09, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The business also recently declared 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. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce’s payout ratio is 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.