Nutshell Asset Management Ltd bought a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,800 shares of the CRM provider's stock, valued at approximately $602,000. Salesforce accounts for 0.4% of Nutshell Asset Management Ltd's portfolio, making the stock its 29th largest position.
Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Salesforce by 0.3% in the fourth quarter. Russell Investments Group Ltd. now owns 907,832 shares of the CRM provider's stock worth $303,666,000 after purchasing an additional 2,293 shares in the last quarter. Ted Buchan & Co grew its position in shares of Salesforce by 4.0% in the 4th quarter. Ted Buchan & Co now owns 3,996 shares of the CRM provider's stock worth $1,336,000 after buying an additional 153 shares during the period. Hemenway Trust Co LLC increased its stake in shares of Salesforce by 712.5% in the 4th quarter. Hemenway Trust Co LLC now owns 21,897 shares of the CRM provider's stock worth $7,321,000 after acquiring an additional 19,202 shares in the last quarter. Payden & Rygel lifted its position in Salesforce by 272.3% during the 4th quarter. Payden & Rygel now owns 17,500 shares of the CRM provider's stock valued at $5,851,000 after acquiring an additional 12,800 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Salesforce by 6.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,493,493 shares of the CRM provider's stock worth $499,320,000 after acquiring an additional 94,229 shares in the last quarter. Institutional investors own 80.43% of the company's stock.
Insider Activity at Salesforce
In related news, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Millham sold 3,937 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares of the company's stock, valued at approximately $1,570,312.44. This trade represents a 41.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Guggenheim reissued a "sell" rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday, February 27th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $361.42.
Read Our Latest Report on Salesforce
Salesforce Stock Down 5.9 %
Shares of CRM opened at $240.26 on Friday. 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. The company has a market capitalization of $230.89 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The business's 50 day moving average is $302.46 and its 200 day moving average is $311.00.
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 given a dividend of $0.42 per share. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.70%. Salesforce's dividend payout ratio is currently 26.10%.
Salesforce Profile
(
Free Report)
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.
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