NorthRock Partners LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

NorthRock Partners LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 93.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,390 shares of the CRM provider’s stock after acquiring an additional 10,807 shares during the quarter. NorthRock Partners LLC’s holdings in Salesforce were worth $7,486,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Nvest Financial LLC raised its stake in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD increased its holdings in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC grew its position in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler cut their price target on shares of Salesforce from $400.00 to $315.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Stephens assumed coverage on Salesforce in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $311.00 target price for the company. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Westpark Capital reiterated a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Finally, Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday, February 19th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $350.56.

Salesforce Trading Up 0.1%

Shares of Salesforce stock opened at $289.18 on Wednesday. The business has a fifty day simple moving average of $267.33 and a 200-day simple moving average of $307.23. The firm has a market cap of $278.01 billion, a price-to-earnings ratio of 47.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were given a dividend of $0.42 per share. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 26.10%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 of the company’s stock, valued at approximately $15,342,415. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $12,907,361 in the last quarter. Insiders own 3.20% of the company’s stock.

About Salesforce

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.