Virtus ETF Advisers LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Virtus ETF Advisers LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,913 shares of the CRM provider's stock, valued at approximately $1,308,000. Salesforce makes up approximately 0.5% of Virtus ETF Advisers LLC's investment portfolio, making the stock its 23rd biggest holding.

Several other large investors have also recently bought and sold shares of CRM. Foundations Investment Advisors LLC grew its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after buying an additional 4,752 shares in the last quarter. Athena Investment Management purchased a new position in shares of Salesforce during the 4th quarter valued at about $236,000. Highland Capital Management LLC purchased a new stake in Salesforce in the fourth quarter worth approximately $4,321,000. Nordea Investment Management AB grew its position in Salesforce by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 2,288,803 shares of the CRM provider's stock valued at $766,566,000 after acquiring an additional 243,008 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake in shares of Salesforce by 14.1% during the fourth quarter. CWA Asset Management Group LLC now owns 15,708 shares of the CRM provider's stock worth $5,252,000 after acquiring an additional 1,936 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. This represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,051 shares of company stock worth $15,027,714. Company insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of CRM traded up $3.17 during midday trading on Friday, hitting $267.87. 5,649,322 shares of the company traded hands, compared to its average volume of 6,824,128. The firm has a 50 day moving average of $273.75 and a 200-day moving average of $308.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $257.42 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson reaffirmed an "underperform" rating and set a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Citigroup restated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Piper Sandler lowered their price objective on Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group cut their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $351.37.

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.