LM Advisors LLC Has $5.82 Million Stake in Salesforce, Inc. (NYSE:CRM)

LM Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,378 shares of the CRM provider's stock after acquiring an additional 2,005 shares during the period. Salesforce accounts for about 1.0% of LM Advisors LLC's holdings, making the stock its 19th biggest position. LM Advisors LLC's holdings in Salesforce were worth $5,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $1,173,564,000. Invesco Ltd. boosted its stake in shares of Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRM shares. BMO Capital Markets reduced their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Westpark Capital reissued a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 price target on the stock. Finally, Macquarie reaffirmed a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and an average price target of $349.87.

Salesforce Price Performance

Salesforce stock traded up $3.80 during mid-day trading on Tuesday, hitting $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 company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $266.24 billion, a P/E ratio of 45.55, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock's fifty day moving average price is $268.33 and its two-hundred day moving average price is $306.20.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This is a positive change 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 annualized dividend and a yield of 0.61%. Salesforce's payout ratio is 26.10%.

Insiders Place Their Bets

In other Salesforce news, Director Robin L. Washington acquired 1,695 shares of Salesforce stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 705 shares of Salesforce 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 sale, the insider now directly owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,553 shares of company stock worth $12,897,323. 3.20% of the stock is owned by insiders.

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.