Aviva PLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Aviva PLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 578,218 shares of the CRM provider's stock after purchasing an additional 5,787 shares during the period. Aviva PLC owned 0.06% of Salesforce worth $193,316,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Salesforce during the 4th quarter valued at about $3,599,867,000. Raymond James Financial Inc. purchased a new stake in Salesforce in the fourth quarter valued at approximately $1,173,564,000. Jennison Associates LLC lifted 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 during the last quarter. Swedbank AB grew 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 worth $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of 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 during the last quarter. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRM. Loop Capital cut their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. Bank of America decreased their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Macquarie reissued a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research note on Thursday, March 20th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $361.42.

Salesforce Stock Performance

Shares of CRM traded up $0.49 during mid-day trading on Wednesday, hitting $244.48. 3,179,600 shares of the company traded hands, compared to its average volume of 6,723,586. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year 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 stock has a 50-day moving average price of $295.86 and a two-hundred day moving average price of $311.01. The stock has a market cap of $234.95 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 26.10%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 652 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares of the company's stock, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,660 shares of company stock valued at $14,095,336. 3.20% of the stock is owned by company insiders.

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.