Marino Stram & Associates LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,257 shares of the CRM provider’s stock after acquiring an additional 120 shares during the quarter. Marino Stram & Associates LLC’s holdings in Salesforce were worth $755,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Gabelli Funds LLC grew its stake in Salesforce by 11.9% during the second quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after buying an additional 255 shares during the last quarter. Sfmg LLC lifted its position in shares of Salesforce by 24.9% during the second quarter. Sfmg LLC now owns 23,264 shares of the CRM provider’s stock worth $5,981,000 after purchasing an additional 4,635 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in shares of Salesforce by 403.4% during the second quarter. Insigneo Advisory Services LLC now owns 11,836 shares of the CRM provider’s stock worth $2,829,000 after purchasing an additional 9,485 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Salesforce by 16.1% in the second quarter. Toronto Dominion Bank now owns 736,459 shares of the CRM provider’s stock valued at $189,344,000 after buying an additional 102,358 shares during the period. Finally, Unisphere Establishment lifted its holdings in Salesforce by 13.9% in the second quarter. Unisphere Establishment now owns 559,000 shares of the CRM provider’s stock valued at $143,719,000 after buying an additional 68,250 shares during the period. Institutional investors own 80.43% of the company’s stock.
Salesforce Stock Performance
Shares of Salesforce stock opened at $332.67 on Thursday. The company has a 50 day moving average of $336.68 and a 200-day moving average of $292.92. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 company has a market cap of $318.37 billion, a PE ratio of 54.72, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30.
Salesforce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.
Insider Buying and Selling
In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s 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 of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,586,572.08. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,171,198 shares of company stock worth $401,945,558 in the last three months. 3.20% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on CRM shares. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Stifel Nicolaus increased their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. DA Davidson increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer reissued an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.
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.
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