Nemes Rush Group LLC Acquires 2,478 Shares of Salesforce, Inc. (NYSE:CRM)

Nemes Rush Group LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,411 shares of the CRM provider's stock after buying an additional 2,478 shares during the period. Salesforce comprises approximately 1.5% of Nemes Rush Group LLC's portfolio, making the stock its 21st biggest position. Nemes Rush Group LLC's holdings in Salesforce were worth $12,173,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC grew its position in Salesforce by 1.4% during 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 purchasing an additional 177,321 shares in the last quarter. Norges Bank acquired a new position in Salesforce in the 4th quarter valued at approximately $3,599,867,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after buying an additional 153,500 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler reissued an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. Northland Securities reissued an "outperform" rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Truist Financial reaffirmed a "buy" rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. DA Davidson decreased their target price on shares of Salesforce from $300.00 to $275.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $361.42.

Salesforce Price Performance

NYSE:CRM traded up $1.82 during trading hours on Tuesday, reaching $270.18. The company had a trading volume of 4,596,911 shares, compared to its average volume of 6,653,506. 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 stock has a 50-day moving average of $307.13 and a two-hundred day moving average of $311.78. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $259.64 billion, a PE ratio of 44.44, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the transaction, the insider now directly owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

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.