WBI Investments LLC Purchases 1,791 Shares of Salesforce, Inc. (NYSE:CRM)

WBI Investments LLC increased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 54.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,069 shares of the CRM provider's stock after buying an additional 1,791 shares during the quarter. WBI Investments LLC's holdings in Salesforce were worth $1,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the period. Northern Trust Corp raised 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 acquiring an additional 1,736,667 shares in the last quarter. Norges Bank acquired a new stake in Salesforce in the 4th quarter valued at about $3,599,867,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 in the last quarter. Institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider now owns 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,306 shares of company stock valued at $12,841,368 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on CRM shares. DA Davidson reiterated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a report on Monday, April 21st. Cantor Fitzgerald assumed coverage on shares of Salesforce in a research report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target on the stock. Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Macquarie restated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Finally, Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $351.59.

Salesforce Stock Down 1.3%

Shares of NYSE CRM traded down $3.60 during trading hours on Friday, hitting $279.82. The stock had a trading volume of 2,329,898 shares, compared to its average volume of 6,893,772. The firm's 50-day moving average price is $268.58 and its two-hundred day moving average price is $306.75. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market capitalization of $269.01 billion, a P/E ratio of 46.03, a P/E/G ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.60%. This is an increase from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Salesforce Company 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.