Fairview Capital Investment Management LLC Has $55.05 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Fairview Capital Investment Management LLC grew its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,648 shares of the CRM provider's stock after purchasing an additional 14,283 shares during the quarter. Salesforce makes up about 2.9% of Fairview Capital Investment Management LLC's holdings, making the stock its 10th largest position. Fairview Capital Investment Management LLC's holdings in Salesforce were worth $55,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC grew its position in shares of Salesforce by 3.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider's stock valued at $818,000 after purchasing an additional 84 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Salesforce by 2.2% in the fourth quarter. Fortitude Family Office LLC now owns 2,603 shares of the CRM provider's stock valued at $870,000 after purchasing an additional 55 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in shares of Salesforce by 5.2% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 4,201 shares of the CRM provider's stock valued at $1,405,000 after purchasing an additional 208 shares in the last quarter. ORG Partners LLC grew its position in shares of Salesforce by 5.4% in the fourth quarter. ORG Partners LLC now owns 3,692 shares of the CRM provider's stock valued at $1,235,000 after purchasing an additional 189 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its position in shares of Salesforce by 0.3% in the fourth quarter. ST Germain D J Co. Inc. now owns 22,676 shares of the CRM provider's stock valued at $7,581,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. Cantor Fitzgerald began 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. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Finally, Scotiabank lowered their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and a consensus target price of $350.56.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on 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 sale, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock valued at $12,907,361 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Shares of Salesforce stock traded up $1.37 on Tuesday, hitting $290.19. The company had a trading volume of 3,455,269 shares, compared to its average volume of 6,831,389. The company has a market cap of $278.99 billion, a PE ratio of 47.73, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day simple moving average of $267.27 and a 200-day simple moving average of $307.35.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. 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 annualized dividend and a dividend yield of 0.58%. Salesforce's dividend payout ratio (DPR) is currently 26.10%.

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.