Salesforce, Inc. (NYSE:CRM) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 412.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 220,519 shares of the CRM provider's stock after acquiring an additional 177,510 shares during the quarter. Focus Partners Wealth's holdings in Salesforce were worth $74,124,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Nvest Financial LLC boosted its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock worth $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its stake in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC raised its holdings in shares of Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its holdings in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $15,342,415. This trade represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred 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 directly owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,830 shares of company stock valued at $12,907,361. Insiders own 3.20% of the company's stock.

Salesforce Price Performance

Shares of CRM traded up $2.27 during trading hours on Wednesday, reaching $291.44. The company had a trading volume of 4,030,383 shares, compared to its average volume of 6,725,450. The firm has a 50 day simple moving average of $267.33 and a 200-day simple moving average of $307.23. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $280.19 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. Macquarie restated a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Morgan Stanley cut their price target on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. DA Davidson reiterated an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research note on Monday, April 21st. BMO Capital Markets reissued an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Finally, Westpark Capital reissued a "buy" rating and set a $320.00 price objective on shares of Salesforce in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $350.56.

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.