NorthRock Partners LLC Purchases 10,807 Shares of Salesforce, Inc. (NYSE:CRM)

NorthRock Partners LLC grew its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,390 shares of the CRM provider's stock after buying an additional 10,807 shares during the period. NorthRock Partners LLC's holdings in Salesforce were worth $7,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nvest Financial LLC raised its stake in shares of 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 purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD increased its stake 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 buying an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of 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 grew its stake 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 buying an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after purchasing an additional 32 shares during the period. Institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

CRM traded up $0.24 during midday trading on Friday, reaching $291.00. 3,837,674 shares of the company's stock were exchanged, compared to its average volume of 6,875,011. The business's 50-day moving average price is $268.10 and its 200 day moving average price is $307.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $279.76 billion, a PE ratio of 47.86, a P/E/G ratio of 2.58 and a beta of 1.42. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on CRM shares. Macquarie restated a "neutral" rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Westpark Capital restated a "buy" rating and set a $320.00 price objective on shares of Salesforce in a research note on Wednesday, April 30th. Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Finally, Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They issued a "buy" rating for the company. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $352.62.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This trade represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $1,975,615.00. Following the transaction, the insider now directly owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,527 shares of company stock worth $14,882,976. Insiders own 3.20% of the company's stock.

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.