Ensign Peak Advisors Inc Purchases 193,713 Shares of Salesforce, Inc. (NYSE:CRM)

Ensign Peak Advisors Inc increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 20.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,122,945 shares of the CRM provider's stock after purchasing an additional 193,713 shares during the period. Salesforce accounts for 0.7% of Ensign Peak Advisors Inc's investment portfolio, making the stock its 24th largest position. Ensign Peak Advisors Inc owned about 0.12% of Salesforce worth $375,434,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after purchasing an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its position in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares in the last quarter. Northern Trust Corp increased its stake in Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Norges Bank purchased a new stake in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 0.2%

Shares of CRM stock traded up $0.56 during trading hours on Tuesday, hitting $289.38. 3,625,496 shares of the company's stock traded hands, compared to its average volume of 6,832,147. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock's fifty day simple moving average is $267.27 and its two-hundred day simple moving average is $307.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market cap of $278.21 billion, a price-to-earnings ratio of 47.60, a PEG ratio of 2.58 and a beta of 1.42.

Salesforce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.58%. This is an increase 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 26.10%.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at approximately $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Millham sold 979 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $248,333.14. Following the completion of the transaction, the chief executive officer now owns 6,487 shares in the company, valued at approximately $1,645,492.42. This represents a 13.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Cantor Fitzgerald started coverage on Salesforce in a research note on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price target for the company. Finally, Canaccord Genuity Group reduced their price objective on Salesforce from $415.00 to $400.00 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 given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently 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.