Transce3nd LLC Makes New $384,000 Investment in Salesforce, Inc. (NYSE:CRM)

Transce3nd LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,148 shares of the CRM provider's stock, valued at approximately $384,000.

Several other large investors have also made changes to their positions in CRM. Geode Capital Management LLC raised its position in Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Norges Bank bought a new stake in shares of Salesforce during the fourth quarter worth approximately $3,599,867,000. Invesco Ltd. lifted its holdings in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Salesforce by 10.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,593,295 shares of the CRM provider's stock worth $2,204,336,000 after acquiring an additional 628,593 shares during the period. Institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRM shares. DA Davidson restated an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research report on Monday. Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Piper Sandler lowered their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Tuesday. One equities research 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.19.

Insider Transactions at Salesforce

In other news, CEO Brian Millham sold 979 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $248,333.14. Following the completion of the transaction, the chief executive officer now directly owns 6,487 shares in the company, valued at approximately $1,645,492.42. The trade was a 13.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,051 shares of company stock valued at $15,027,714. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM traded up $13.81 during midday trading on Thursday, reaching $264.29. 7,846,607 shares of the stock were exchanged, compared to its average volume of 6,797,012. The stock's 50 day simple moving average is $276.19 and its 200 day simple moving average is $308.58. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $253.98 billion, a P/E ratio of 43.47, a PEG ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current 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 given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is currently 26.10%.

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.