Pathstone Holdings LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Pathstone Holdings LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,697 shares of the CRM provider's stock after buying an additional 1,479 shares during the period. Pathstone Holdings LLC's holdings in Salesforce were worth $37,340,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRM. Norges Bank acquired a new position in shares of Salesforce in the 4th quarter worth approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Salesforce in the 4th quarter worth approximately $1,173,564,000. Invesco Ltd. lifted its position in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRM shares. Canaccord Genuity Group dropped their price target on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. DA Davidson reiterated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Monday, April 21st. Cantor Fitzgerald initiated coverage on shares of Salesforce in a research note on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus target price of $352.62.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17% 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 transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,527 shares of company stock valued at $14,882,976. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $0.24 during midday trading on Friday, reaching $291.00. The company had a trading volume of 3,837,674 shares, compared to its average volume of 6,875,011. The company's 50 day moving average price is $267.83 and its 200 day moving average price is $307.08. 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 stock 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. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week 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. This is an increase from Salesforce's previous quarterly dividend of $0.40. 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. Salesforce's payout ratio is 26.10%.

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.