Brooklyn FI LLC Purchases Shares of 9,152 Salesforce, Inc. (NYSE:CRM)

Brooklyn FI LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 9,152 shares of the CRM provider's stock, valued at approximately $2,921,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brucke Financial Inc. purchased a new stake in shares of Salesforce in the 4th quarter worth about $1,449,000. Azzad Asset Management Inc. ADV lifted its position in shares of Salesforce by 0.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 17,904 shares of the CRM provider's stock worth $5,986,000 after purchasing an additional 104 shares during the period. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter valued at about $25,000. HWG Holdings LP purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $1,894,000. Finally, Yoffe Investment Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $313,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the transaction, the insider now directly owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,553 shares of company stock worth $12,897,323 over the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CRM shares. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Stephens started coverage on shares of Salesforce in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 price objective for the company. Loop Capital decreased their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of Salesforce in a report on Friday, April 25th. Finally, Robert W. Baird reduced their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One investment 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $349.87.

Salesforce Trading Up 1.4%

Shares of NYSE:CRM traded up $3.80 during trading on Tuesday, reaching $276.93. The company's stock had a trading volume of 10,944,663 shares, compared to its average volume of 6,935,640. The firm's 50 day simple moving average is $268.33 and its two-hundred day simple moving average is $306.20. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month 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.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.61%. 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. 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.