Russell Investments Group Ltd. Purchases 2,293 Shares of Salesforce, Inc. (NYSE:CRM)

Russell Investments Group Ltd. raised its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 907,832 shares of the CRM provider's stock after purchasing an additional 2,293 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Salesforce worth $303,666,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRM. Geode Capital Management LLC raised its stake in shares of Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after acquiring an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Norges Bank acquired a new position in Salesforce during the 4th quarter worth $3,599,867,000. Massachusetts Financial Services Co. MA increased its stake in shares of Salesforce by 10.5% in the 4th 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 buying an additional 628,593 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Salesforce by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock worth $2,028,164,000 after acquiring an additional 153,500 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 5.9 %

NYSE CRM opened at $240.26 on Friday. The business has a fifty day moving average price of $302.46 and a two-hundred day moving average price of $311.00. The stock has a market capitalization of $230.89 billion, a PE ratio of 39.52, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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 given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $12,967,047.50. This represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Oscar Munoz purchased 3,882 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $257.28 per share, for a total transaction of $998,760.96. Following the completion of the purchase, the director now directly owns 11,843 shares of the company's stock, valued at approximately $3,046,967.04. This represents a 48.76 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on CRM shares. Jefferies Financial Group lowered their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Bank of America dropped their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Guggenheim reissued a "sell" rating and issued a $247.00 price target on shares of Salesforce in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of "Moderate Buy" and an average target price of $361.42.

Remove Ads

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.