Franklin Resources Inc. Boosts Position in Salesforce, Inc. (NYSE:CRM)

Franklin Resources Inc. lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,598,423 shares of the CRM provider's stock after purchasing an additional 1,204,355 shares during the period. Franklin Resources Inc. owned about 0.58% of Salesforce worth $1,871,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. United Bank boosted its stake in shares of Salesforce by 1.1% in the third quarter. United Bank now owns 7,303 shares of the CRM provider's stock worth $1,999,000 after acquiring an additional 76 shares during the period. Northwest & Ethical Investments L.P. raised its position in shares of Salesforce by 89.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 1,710 shares of the CRM provider's stock valued at $468,000 after buying an additional 807 shares during the last quarter. Captrust Financial Advisors grew its stake in Salesforce by 1.1% during the third quarter. Captrust Financial Advisors now owns 52,069 shares of the CRM provider's stock valued at $14,252,000 after acquiring an additional 582 shares in the last quarter. Semmax Financial Advisors Inc. increased its holdings in Salesforce by 39.3% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 6,925 shares of the CRM provider's stock valued at $1,895,000 after acquiring an additional 1,954 shares during the last quarter. Finally, Timber Creek Capital Management LLC boosted its holdings in shares of Salesforce by 4.2% during the 3rd quarter. Timber Creek Capital Management LLC now owns 17,483 shares of the CRM provider's stock valued at $4,785,000 after purchasing an additional 703 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the transaction, the insider now directly owns 29,190 shares of the company's stock, valued at $8,416,644.60. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 652 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares of the company's stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

CRM stock traded up $1.82 during midday trading on Tuesday, hitting $270.18. 4,596,911 shares of the stock traded hands, compared to its average volume of 6,653,506. 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 current ratio of 1.11 and a quick ratio of 1.11. The stock's fifty day simple moving average is $308.26 and its 200-day simple moving average is $311.67. The firm has a market cap of $259.64 billion, a P/E ratio of 44.44, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wells Fargo & Company cut their target price on Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Finally, Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, five have given 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $361.42.

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.