DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Boosts Position in Salesforce, Inc. (NYSE:CRM)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 926.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,256,211 shares of the CRM provider's stock after acquiring an additional 3,841,521 shares during the quarter. Salesforce makes up approximately 1.4% of DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's investment portfolio, making the stock its 16th largest position. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.44% of Salesforce worth $1,422,979,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at $9,141,957.90. The trade was a 16.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $12,907,361 in the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 1.6 %

CRM traded down $4.36 during trading hours on Friday, hitting $275.38. 4,322,783 shares of the company's stock were exchanged, compared to its average volume of 6,832,205. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $264.75 billion, a P/E ratio of 45.29, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The firm has a 50 day moving average of $267.33 and a 200 day moving average of $307.06.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. 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 0.61%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Oppenheimer lowered their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company dropped their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Macquarie restated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Canaccord Genuity Group dropped their target price on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Jefferies Financial Group decreased their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.