Zevenbergen Capital Investments LLC Acquires 8,100 Shares of Salesforce, Inc. (NYSE:CRM)

Zevenbergen Capital Investments LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,100 shares of the CRM provider's stock after acquiring an additional 8,100 shares during the quarter. Zevenbergen Capital Investments LLC's holdings in Salesforce were worth $7,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce in the fourth quarter valued at approximately $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 652 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now owns 121,467 shares in the company, valued at approximately $40,361,054.76. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,660 shares of company stock valued at $14,095,336 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research note on Thursday, February 27th. Wedbush restated an "outperform" rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Morgan Stanley raised their price target on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Guggenheim reiterated a "sell" rating and issued a $247.00 price objective on shares of Salesforce in a research report on Thursday, February 27th. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 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 assigned a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $362.74.

Salesforce Stock Down 1.1 %

CRM traded down $3.11 during midday trading on Thursday, reaching $277.88. The company's stock had a trading volume of 3,755,356 shares, compared to its average volume of 6,389,262. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock's 50-day moving average is $310.49 and its 200-day moving average is $310.51. The firm has a market capitalization of $267.04 billion, a price-to-earnings ratio of 45.70, a PEG ratio of 2.58 and a beta of 1.35. 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 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 paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.60%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is presently 25.16%.

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.