Nuveen Asset Management LLC Purchases 114,278 Shares of Salesforce, Inc. (NYSE:CRM)

Nuveen Asset Management LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,598,989 shares of the CRM provider's stock after purchasing an additional 114,278 shares during the quarter. Salesforce accounts for about 0.8% of Nuveen Asset Management LLC's portfolio, making the stock its 16th largest position. Nuveen Asset Management LLC owned about 0.90% of Salesforce worth $2,874,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Nvest Financial LLC boosted its position 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 buying an additional 31 shares during the period. OMC Financial Services LTD boosted its position 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 buying an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its position 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 buying an additional 31 shares during the period. Sachetta LLC boosted its position in 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 buying an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its position in 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 buying an additional 32 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,527 shares of company stock worth $14,882,976. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Up 0.1%

Shares of CRM stock traded up $0.24 during mid-day trading on Friday, reaching $291.00. 3,837,674 shares of the company's stock traded hands, compared to its average volume of 6,875,011. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $279.76 billion, a P/E ratio of 47.86, a P/E/G 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. The company's 50-day moving average price is $267.83 and its 200-day moving average price is $307.08.

Salesforce Increases Dividend

The firm also recently announced 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 0.58%. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. Salesforce's payout ratio is 26.10%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. BMO Capital Markets restated an "outperform" rating on shares of Salesforce in a research report on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research note on Friday, April 25th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Oppenheimer reduced their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, 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 report on Thursday, February 27th. One investment 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.