Forum Financial Management LP Purchases 2,075 Shares of Salesforce, Inc. (NYSE:CRM)

Forum Financial Management LP increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,543 shares of the CRM provider's stock after buying an additional 2,075 shares during the quarter. Forum Financial Management LP's holdings in Salesforce were worth $3,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Geode Capital Management LLC raised its position in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its stake in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after buying an additional 177,321 shares during the period. Norges Bank bought a new position in Salesforce during the fourth quarter worth $3,599,867,000. Invesco Ltd. raised its holdings in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 10.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock worth $2,204,336,000 after purchasing an additional 628,593 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Morgan Stanley lowered their price target on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Stephens initiated coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 target price on the stock. Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.49.

Salesforce Stock Up 2.9 %

Shares of NYSE:CRM traded up $6.97 during trading on Tuesday, reaching $243.23. 3,020,069 shares of the stock traded hands, compared to its average volume of 6,778,678. The stock has a market cap of $233.74 billion, a P/E ratio of 39.99, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. 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 50-day moving average of $279.43 and a two-hundred day moving average of $309.44.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.69%. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,534,090. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 over the last 90 days. Company insiders own 3.20% of the company's stock.

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.