Sone Capital Management LLC Invests $318,000 in Salesforce, Inc. (NYSE:CRM)

Sone Capital Management LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 951 shares of the CRM provider's stock, valued at approximately $318,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after purchasing an additional 175,035 shares during the period. Fisher Asset Management LLC increased its holdings in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the period. Northern Trust Corp increased its holdings in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Norges Bank acquired a new stake in Salesforce in the fourth quarter valued at $3,599,867,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Salesforce by 23.2% in the fourth 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 during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. The trade was a 41.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred 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 transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $14,071,750. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,306 shares of company stock worth $12,841,368 in the last quarter. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. DA Davidson restated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a report on Monday, April 21st. Macquarie reaffirmed a "neutral" rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. 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. Canaccord Genuity Group cut their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. One 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $352.62.

Salesforce Trading Down 1.4%

NYSE:CRM opened at $287.03 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $275.95 billion, a price-to-earnings ratio of 47.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a 50-day moving average price of $268.15 and a two-hundred day moving average price of $307.16.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 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.

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