State of Wyoming Acquires 1,503 Shares of Salesforce, Inc. (NYSE:CRM)

State of Wyoming increased its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 152.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,486 shares of the CRM provider's stock after purchasing an additional 1,503 shares during the quarter. State of Wyoming's holdings in Salesforce were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth about $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Finally, Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth about $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE:CRM traded up $0.01 during trading hours on Tuesday, reaching $287.64. The company had a trading volume of 4,026,816 shares, compared to its average volume of 6,889,261. The stock has a 50-day moving average of $268.15 and a two-hundred day moving average of $307.16. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $276.53 billion, a PE ratio of 47.31, 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.58%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is currently 26.10%.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miguel Milano sold 458 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,306 shares of company stock valued at $12,841,368. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CRM shares. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Friday, April 25th. Jefferies Financial Group reduced their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Monday, March 31st. BMO Capital Markets reiterated an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Wells Fargo & Company reduced their price target on Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group reduced their price target on Salesforce from $415.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $352.62.

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.