Virtus ETF Advisers LLC Buys New Position in Salesforce, Inc. (NYSE:CRM)

Virtus ETF Advisers LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,913 shares of the CRM provider's stock, valued at approximately $1,308,000. Salesforce makes up about 0.5% of Virtus ETF Advisers LLC's investment portfolio, making the stock its 23rd largest holding.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Salesforce during the fourth quarter valued at $3,599,867,000. Raymond James Financial Inc. bought a new position in shares of Salesforce during the fourth quarter valued at $1,173,564,000. Invesco Ltd. raised its position in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Salesforce by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Salesforce by 52.7% during the 4th 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 during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CRM shares. Loop Capital cut their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Macquarie reissued a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $350.56.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 458 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company's stock, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction dated 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 owns 6,557 shares of the company's stock, valued at $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 0.8 %

Shares of NYSE:CRM traded down $2.04 during trading on Wednesday, reaching $265.72. 1,227,688 shares of the company were exchanged, compared to its average volume of 6,792,888. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $255.46 billion, a PE ratio of 43.70, a P/E/G ratio of 2.58 and a beta of 1.38. The business's fifty day simple moving average is $271.56 and its 200-day simple moving average is $308.10. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce's payout ratio is 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.