Somerville Kurt F Invests $2.86 Million in Salesforce, Inc. (NYSE:CRM)

Somerville Kurt F bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,551 shares of the CRM provider's stock, valued at approximately $2,859,000.

Several other hedge funds have also bought and sold shares of CRM. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new stake in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the fourth quarter worth $31,000. Collier Financial purchased a new stake in shares of Salesforce during the fourth quarter valued at $32,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of Salesforce stock in a transaction 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 transaction, the insider now owns 121,467 shares in the company, valued at $40,361,054.76. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,534,090. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,660 shares of company stock worth $14,095,336. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CRM shares. Loop Capital reduced their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Robert W. Baird cut their target price on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 27th. Finally, Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $361.42.

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Salesforce Trading Down 6.1 %

Shares of Salesforce stock opened at $255.06 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm's 50-day moving average price is $304.32 and its 200 day moving average price is $311.11. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $245.11 billion, a PE ratio of 41.95, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.66%. Salesforce's payout ratio is currently 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.

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