13,880 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Vega Investment Solutions

Vega Investment Solutions purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,880 shares of the CRM provider's stock, valued at approximately $4,641,000. Salesforce accounts for approximately 3.8% of Vega Investment Solutions' investment portfolio, making the stock its 8th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new position in Salesforce in the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the 4th quarter worth $27,000. Arlington Trust Co LLC lifted 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 buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the 4th quarter worth $30,000. Finally, Asset Planning Inc acquired a new position in Salesforce in the 4th quarter worth $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

NYSE CRM opened at $283.08 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $272.15 billion, a price-to-earnings ratio of 46.56, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a 50-day moving average price of $268.58 and a two-hundred day moving average price of $306.75.

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 issued a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CRM shares. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Stephens began coverage on shares of Salesforce in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 target price on the stock. Westpark Capital restated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research note on Wednesday, April 30th. Finally, Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. One investment 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 stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $352.36.

Insider Activity

In other news, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $14,071,750. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock worth $12,841,368 over the last three months. 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.

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