Wealth Advisors of Tampa Bay LLC Has $5.02 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Wealth Advisors of Tampa Bay LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,001 shares of the CRM provider's stock after selling 3,053 shares during the period. Salesforce comprises 2.1% of Wealth Advisors of Tampa Bay LLC's investment portfolio, making the stock its 17th largest holding. Wealth Advisors of Tampa Bay LLC's holdings in Salesforce were worth $5,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. Raymond James Financial Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its position in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB increased its stake in Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock valued at $1,280,408,000 after buying an additional 1,219,254 shares during the period. Finally, Franklin Resources Inc. lifted its position in Salesforce by 27.4% in the 4th quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider's stock worth $1,871,721,000 after buying an additional 1,204,355 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 in the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

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 company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $245.11 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The firm's 50-day simple moving average is $304.32 and its 200-day simple moving average is $311.11.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 10th. This is a boost 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 dividend payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CRM shares. Citigroup reaffirmed a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Macquarie reiterated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have given 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.42.

Remove Ads

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.