Mattson Financial Services LLC increased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 43,625.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,498 shares of the CRM provider's stock after acquiring an additional 3,490 shares during the period. Mattson Financial Services LLC's holdings in Salesforce were worth $1,169,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of CRM. Norges Bank bought a new position in shares of Salesforce during the 4th quarter worth $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew 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 during the period. Raymond James Financial Inc. bought a new position in shares of Salesforce during the 4th quarter worth $1,173,564,000. Invesco Ltd. grew 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 during the period. Finally, Northern Trust Corp grew 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 during the period. 80.43% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider now directly owns 41,422 shares of the company's stock, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 705 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the sale, the insider now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 46,553 shares of company stock valued at $12,897,323. Corporate insiders own 3.20% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on CRM shares. Stephens cut their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday. UBS Group dropped their price objective on Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a report on Tuesday. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Redburn Atlantic began coverage on Salesforce in a report on Wednesday, February 19th. They set a "buy" rating on the stock. Finally, Northland Securities dropped their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $343.32.
Read Our Latest Research Report on CRM
Salesforce Stock Down 0.7%
Shares of NYSE:CRM traded down $1.89 during midday trading on Friday, reaching $265.03. The company's stock had a trading volume of 12,373,506 shares, compared to its average volume of 6,790,605. Salesforce, Inc. has a 12-month low of $216.06 and a 12-month high of $369.00. The firm has a 50 day moving average of $267.31 and a 200-day moving average of $304.75. The firm has a market capitalization of $254.80 billion, a P/E ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the company earned $2.44 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.
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 issued 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 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.
About Salesforce
(
Free Report)
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.
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