Shelton Capital Management Purchases 7,598 Shares of Salesforce, Inc. (NYSE:CRM)

Shelton Capital Management increased its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 20.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,574 shares of the CRM provider's stock after acquiring an additional 7,598 shares during the period. Shelton Capital Management's holdings in Salesforce were worth $14,902,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CRM. Foundations Investment Advisors LLC increased its position in shares of Salesforce by 15.0% during 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 in the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the 3rd quarter valued at $1,215,000. Athena Investment Management purchased a new stake in Salesforce during the fourth quarter worth about $236,000. Highland Capital Management LLC bought a new stake in Salesforce in the fourth quarter worth about $4,321,000. Finally, Geode Capital Management LLC grew its holdings in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 0.1 %

NYSE CRM traded down $0.14 during trading hours on Friday, reaching $254.98. 6,087,156 shares of the company traded hands, compared to its average volume of 6,812,000. The stock has a market capitalization of $245.04 billion, a PE ratio of 41.94, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50 day moving average of $289.29 and a two-hundred day moving average of $310.46. 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 company 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 is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.66%. Salesforce's dividend payout ratio is 26.10%.

Insider Activity at Salesforce

In other news, Director Oscar Munoz acquired 3,882 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, with a total value of $998,760.96. Following the purchase, the director now owns 11,843 shares of the company's stock, valued at approximately $3,046,967.04. This trade represents a 48.76 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm'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 sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at $12,967,047.50. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,660 shares of company stock worth $14,095,336 in the last three months. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Piper Sandler reiterated an "overweight" rating on shares of Salesforce in a research report on Wednesday, March 19th. TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Jefferies Financial Group lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Guggenheim reaffirmed a "sell" rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday, February 27th. One investment 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 company. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

About Salesforce

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.