Salesforce, Inc. (NYSE:CRM) Shares Bought by Prudential PLC

Prudential PLC grew its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,713 shares of the CRM provider's stock after buying an additional 1,123 shares during the quarter. Prudential PLC's holdings in Salesforce were worth $40,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Foundations Investment Advisors LLC raised its position in Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock worth $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the 3rd quarter worth $1,215,000. Athena Investment Management purchased a new position in Salesforce during the fourth quarter valued at $236,000. Highland Capital Management LLC bought a new stake in Salesforce during the fourth quarter valued at about $4,321,000. Finally, Geode Capital Management LLC increased its position in Salesforce by 1.3% in 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 buying an additional 257,501 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 of the company's stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,660 shares of company stock valued at $14,095,336. Company insiders own 3.20% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Guggenheim reiterated a "sell" rating and set a $247.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Wedbush reiterated an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Robert W. Baird cut their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $361.42.

Salesforce Stock Down 5.9 %

NYSE CRM traded down $14.97 on Friday, reaching $240.26. 9,689,126 shares of the stock traded hands, compared to its average volume of 6,684,703. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average price of $302.46 and a 200-day moving average price of $311.00. The company has a market cap of $230.89 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.70%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

Salesforce 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.