Geode Capital Management LLC Purchases 175,035 Shares of Salesforce, Inc. (NYSE:CRM)

Geode Capital Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,955,353 shares of the CRM provider's stock after purchasing an additional 175,035 shares during the period. Salesforce makes up about 0.5% of Geode Capital Management LLC's investment portfolio, making the stock its 23rd largest holding. Geode Capital Management LLC owned 2.09% of Salesforce worth $6,656,078,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Nvest Financial LLC increased its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD raised its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its holdings in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the period. Institutional investors own 80.43% of the company's stock.

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Salesforce Trading Up 0.7 %

Shares of NYSE CRM traded up $1.82 during trading hours on Tuesday, hitting $270.18. 4,596,911 shares of the company traded hands, compared to its average volume of 6,653,506. The stock has a market capitalization of $259.64 billion, a price-to-earnings ratio of 44.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company's 50 day moving average price is $307.13 and its 200 day moving average price is $311.78. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 26.10%.

Analyst Upgrades and Downgrades

CRM has been the subject of several research analyst reports. DA Davidson cut their price objective on Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of Salesforce from $345.00 to $310.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Finally, Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $361.42.

Insider Buying and Selling

In other Salesforce news, CEO Brian Millham sold 3,937 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now owns 5,518 shares in the company, valued at $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R David Schmaier sold 1,785 shares of the business's 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 sale, the insider now directly owns 29,190 shares of the company's stock, valued at $8,416,644.60. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,660 shares of company stock valued at $14,095,336. 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.