Salesforce, Inc. (NYSE:CRM) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 23.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,938,536 shares of the CRM provider's stock after purchasing an additional 1,683,233 shares during the period. Price T Rowe Associates Inc. MD owned about 0.93% of Salesforce worth $2,988,422,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Invst LLC increased its position in Salesforce by 4.2% during the third quarter. Invst LLC now owns 17,003 shares of the CRM provider's stock worth $4,654,000 after buying an additional 685 shares in the last quarter. Passumpsic Savings Bank raised its position in shares of Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider's stock valued at $2,007,000 after buying an additional 87 shares during the last quarter. Anchor Investment Management LLC lifted its stake in shares of Salesforce by 15.7% during the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock valued at $1,174,000 after buying an additional 581 shares during the period. Pine Valley Investments Ltd Liability Co boosted its position in Salesforce by 14.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider's stock worth $1,930,000 after acquiring an additional 866 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in Salesforce by 570.4% in the 3rd quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider's stock worth $14,903,000 after acquiring an additional 46,324 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. Stephens began coverage on Salesforce in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective for the company. Citigroup reiterated a "buy" rating on shares of Salesforce in a report on Wednesday, March 19th. Loop Capital lowered their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Finally, Oppenheimer lowered their price objective on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $351.37.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,051 shares of company stock worth $15,027,714. Company insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of CRM stock traded up $3.17 during trading hours on Friday, reaching $267.87. The stock had a trading volume of 5,649,322 shares, compared to its average volume of 6,811,850. The firm has a market capitalization of $257.42 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm has a 50-day simple moving average of $273.75 and a 200-day simple moving average of $308.27. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month 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 declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 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.