1,714 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Elefante Mark B

Elefante Mark B acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,714 shares of the CRM provider’s stock, valued at approximately $573,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Norges Bank acquired a new position in shares of Salesforce during the fourth quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after buying an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Salesforce during the fourth quarter valued at about $1,173,564,000. Invesco Ltd. increased its position in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $279.54 on Friday. The firm has a fifty day simple moving average of $267.57 and a two-hundred day simple moving average of $307.15. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $268.75 billion, a PE ratio of 45.98, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the transaction, the chief accounting officer now directly owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock worth $12,907,361 in the last ninety days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRM shares. Cantor Fitzgerald began coverage on Salesforce in a research note on Wednesday, April 23rd. They issued an “overweight” rating and a $210.00 price objective for the company. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. DA Davidson reiterated an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a research note on Monday, April 21st. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Salesforce in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $350.56.

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.