62,989 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Avanza Fonder AB

Avanza Fonder AB purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 62,989 shares of the CRM provider's stock, valued at approximately $21,059,000. Salesforce makes up about 0.6% of Avanza Fonder AB's holdings, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Godsey & Gibb Inc. increased its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the second quarter worth about $33,000. Annapolis Financial Services LLC boosted its holdings in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider's stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRM shares. Macquarie reaffirmed a "neutral" rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Jefferies Financial Group upped their price target on Salesforce from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Finally, TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and increased their target price for the stock from $380.00 to $400.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $377.63.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $34,229,213.48. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last 90 days. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 1.5 %

CRM stock traded up $4.77 during midday trading on Friday, reaching $324.77. 6,283,411 shares of the company were exchanged, compared to its average volume of 5,231,181. The stock's 50-day simple moving average is $337.25 and its 200 day simple moving average is $291.08. 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 quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce's dividend payout ratio is currently 26.32%.

About Salesforce

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.