Salesforce, Inc. (NYSE:CRM) Shares Purchased by Citizens Business Bank

Citizens Business Bank increased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 97.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,710 shares of the CRM provider's stock after acquiring an additional 10,238 shares during the quarter. Salesforce makes up about 1.3% of Citizens Business Bank's portfolio, making the stock its 24th biggest holding. Citizens Business Bank's holdings in Salesforce were worth $6,924,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC increased its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce during the fourth quarter worth approximately $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM traded down $4.36 during trading on Friday, reaching $275.38. The company's stock had a trading volume of 4,322,783 shares, compared to its average volume of 6,832,205. 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 company's fifty day moving average price is $267.33 and its 200-day moving average price is $307.06. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market capitalization of $264.75 billion, a price-to-earnings ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a yield of 0.61%. Salesforce's dividend payout ratio is presently 26.10%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 target price for the company. Piper Sandler reduced their target price on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird cut their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group lowered their price objective on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One 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. According to MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $350.56.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on Monday, February 24th. The shares were 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 approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,830 shares of company stock worth $12,907,361. Corporate 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.