United Capital Financial Advisors LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

United Capital Financial Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,101 shares of the CRM provider's stock after buying an additional 3,351 shares during the quarter. United Capital Financial Advisors LLC's holdings in Salesforce were worth $36,810,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CRM. Nvest Financial LLC increased its holdings in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD raised its position in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC increased its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC lifted its stake in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after buying an additional 32 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM traded down $2.91 during midday trading on Friday, reaching $246.93. The stock had a trading volume of 5,564,231 shares, compared to its average volume of 6,775,715. The company has a market capitalization of $237.30 billion, a price-to-earnings ratio of 40.61, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company's 50-day moving average is $281.23 and its 200 day moving average is $309.39.

Salesforce Increases Dividend

The business also recently declared 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 represents a $1.68 annualized dividend and a yield of 0.68%. 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 presently 26.10%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. TD Cowen upgraded Salesforce from a "hold" rating to a "buy" rating and upped their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Oppenheimer reduced their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley reduced their target price on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $360.32.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 500 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 value of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,654 shares of company stock valued at $14,124,094 in the last 90 days. 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.