23,737 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC bought a new position in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,737 shares of the CRM provider's stock, valued at approximately $7,936,000. Salesforce accounts for about 1.3% of Castlekeep Investment Advisors LLC's holdings, making the stock its 16th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter worth about $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new stake in Salesforce during the 4th quarter valued at approximately $31,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 705 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. This represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction 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 sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,553 shares of company stock worth $12,897,323. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

NYSE CRM traded down $1.92 on Wednesday, reaching $275.27. 4,303,683 shares of the stock were exchanged, compared to its average volume of 6,926,067. The firm has a market capitalization of $264.64 billion, a PE ratio of 45.27, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company's 50-day simple moving average is $268.29 and its two-hundred day simple moving average is $306.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

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

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Citigroup restated an "outperform" rating on shares of Salesforce in a research note on Wednesday. Oppenheimer decreased their price target on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company decreased their target price on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $348.59.

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.