Mirabella Financial Services LLP Has $318,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Mirabella Financial Services LLP lowered its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 87.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 950 shares of the CRM provider's stock after selling 6,734 shares during the period. Mirabella Financial Services LLP's holdings in Salesforce were worth $318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 175,035 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after purchasing an additional 177,321 shares in the last quarter. Norges Bank acquired a new stake in shares of Salesforce during the 4th quarter valued at $3,599,867,000. Invesco Ltd. grew its holdings in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Salesforce by 10.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock valued at $2,204,336,000 after purchasing an additional 628,593 shares during the period. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 2.9 %

NYSE:CRM traded up $7.18 during trading hours on Wednesday, reaching $250.57. The company's stock had a trading volume of 5,811,604 shares, compared to its average volume of 6,792,807. 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 company has a market cap of $240.79 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business's 50-day moving average is $277.69 and its 200-day moving average is $308.98. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.67%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares of the company's stock, valued at $40,361,054.76. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 1,256 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the sale, the chief accounting officer now directly owns 12,826 shares in the company, valued at $3,248,954.06. This represents a 8.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock valued at $14,124,094 over the last three months. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday. Cantor Fitzgerald started coverage on Salesforce in a report on Wednesday. They issued an "overweight" rating for the company. Scotiabank dropped their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Canaccord Genuity Group decreased their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer dropped their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $355.19.

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.