Broderick Brian C Takes Position in Salesforce, Inc. (NYSE:CRM)

Broderick Brian C bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,764 shares of the CRM provider's stock, valued at approximately $2,261,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $31,000. Collier Financial bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $32,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Salesforce in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

CRM opened at $255.06 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm's fifty day simple moving average is $304.32 and its two-hundred day simple moving average is $311.11. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $245.11 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Insider Buying and Selling at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,570,312.44. The trade was a 41.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock worth $14,095,336 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. TD Cowen upgraded 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 report on Friday, January 17th. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Guggenheim reissued a "sell" rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. DA Davidson cut their price objective on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Macquarie reiterated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

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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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