Zurich Insurance Group Ltd FI Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Zurich Insurance Group Ltd FI raised its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 110.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 562,125 shares of the CRM provider's stock after acquiring an additional 295,554 shares during the quarter. Salesforce comprises 1.5% of Zurich Insurance Group Ltd FI's holdings, making the stock its 10th largest position. Zurich Insurance Group Ltd FI owned 0.06% of Salesforce worth $187,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Nvest Financial LLC raised its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after acquiring an additional 31 shares during the period. OMC Financial Services LTD raised its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC raised its holdings in Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC increased its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Stephens initiated coverage on shares of Salesforce in a report on Wednesday, March 19th. They set an "equal weight" rating and a $311.00 target price on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a report on Wednesday, March 19th. Macquarie reaffirmed a "neutral" rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Cantor Fitzgerald initiated coverage on shares of Salesforce in a report on Wednesday, April 23rd. They set an "overweight" rating and a $210.00 target price on the stock. Finally, Piper Sandler lowered their target price on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $352.62.

Salesforce Stock Performance

NYSE CRM opened at $287.03 on Tuesday. The stock has a market cap of $275.95 billion, a PE ratio of 47.21, a PEG ratio of 2.58 and a beta of 1.42. The firm's fifty day moving average price is $268.15 and its two-hundred day moving average price is $307.16. 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, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction on 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 transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,306 shares of company stock worth $12,841,368. Company insiders own 3.20% of the company's stock.

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.