Elefante Mark B Takes Position in Salesforce, Inc. (NYSE:CRM)

Elefante Mark B acquired a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,714 shares of the CRM provider's stock, valued at approximately $573,000.

Other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC grew its holdings in 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 period. Compass Financial Services Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce in the fourth quarter valued at approximately $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company's 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 directly owns 46,750 shares of the company's stock, 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 Trading Up 4.8%

Shares of NYSE CRM traded up $13.20 during trading on Monday, reaching $288.62. The stock had a trading volume of 5,934,826 shares, compared to its average volume of 6,844,292. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market cap of $277.48 billion, a P/E ratio of 47.47, a PEG ratio of 2.58 and a beta of 1.42. 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 business's 50-day moving average price is $267.33 and its 200-day moving average price is $307.36.

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 paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.58%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is presently 26.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer decreased their target price on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. 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 on the stock. DA Davidson restated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Finally, Westpark Capital restated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock 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.