Brucke Financial Inc. Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Brucke Financial Inc. purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,242 shares of the CRM provider's stock, valued at approximately $1,449,000. Salesforce comprises 1.3% of Brucke Financial Inc.'s holdings, making the stock its 20th biggest holding.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Salesforce by 0.9% in 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 buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after acquiring an additional 177,321 shares during the last quarter. Northern Trust Corp increased its position in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Norges Bank bought a new stake in Salesforce during the 4th quarter worth about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 purchasing an additional 1,683,233 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $14,071,750. The trade was a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin L. Washington purchased 1,695 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 46,553 shares of company stock worth $12,897,323. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRM. Macquarie reiterated a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Piper Sandler reduced their price objective on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Citigroup cut their price target on Salesforce from $335.00 to $320.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, Westpark Capital reaffirmed a "buy" rating and set a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $349.87.

Salesforce Stock Performance

CRM stock traded up $3.80 during trading hours on Tuesday, reaching $276.93. The stock had a trading volume of 10,944,663 shares, compared to its average volume of 6,935,640. The stock has a 50-day simple moving average of $268.33 and a 200 day simple moving average of $306.20. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $266.24 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's dividend payout ratio is presently 26.10%.

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.