Yoffe Investment Management LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,804 shares of the CRM provider's stock, valued at approximately $603,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC increased its position in Salesforce by 4.7% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,846 shares of the CRM provider's stock worth $618,000 after buying an additional 83 shares during the last quarter. Uniting Wealth Partners LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $631,000. Pitcairn Co. raised its stake in Salesforce by 1.7% in the 4th quarter. Pitcairn Co. now owns 11,905 shares of the CRM provider's stock valued at $3,980,000 after acquiring an additional 197 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Salesforce during the 4th quarter valued at $15,365,000. Finally, Grant Private Wealth Management Inc bought a new position in Salesforce during the fourth quarter worth $1,211,000. 80.43% of the stock is owned by institutional investors.
Insider Activity
In other news, Director Oscar Munoz purchased 3,882 shares of the stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $257.28 per share, for a total transaction of $998,760.96. Following the acquisition, the director now owns 11,843 shares in the company, valued at $3,046,967.04. This trade represents a 48.76 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $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 90 days, insiders sold 45,660 shares of company stock valued at $14,095,336. Insiders own 3.20% of the company's stock.
Salesforce Trading Down 5.9 %
Shares of NYSE:CRM traded down $14.97 during midday trading on Friday, hitting $240.26. 9,689,126 shares of the stock were exchanged, compared to its average volume of 6,684,703. The business's 50-day moving average price is $302.46 and its 200 day moving average price is $311.00. The stock has a market capitalization of $230.89 billion, a price-to-earnings ratio of 39.52, a P/E/G 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 debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.
Salesforce Increases Dividend
The firm also recently declared 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. This represents a $1.68 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Salesforce's dividend payout ratio is 26.10%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Bank of America cut their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Oppenheimer reduced their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. DA Davidson lowered their target price on Salesforce from $300.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $361.42.
Read Our Latest Research Report on CRM
About Salesforce
(
Free Report)
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.
Featured Articles
Before you consider Salesforce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Salesforce wasn't on the list.
While Salesforce currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
