ProShare Advisors LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

ProShare Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 349,165 shares of the CRM provider's stock after buying an additional 63,345 shares during the quarter. ProShare Advisors LLC's holdings in Salesforce were worth $116,736,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CRM. Nvest Financial LLC grew 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 purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD increased its position in shares of 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 stake in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC grew its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider's stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its holdings in shares of Salesforce by 1.0% in the fourth 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. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRM. Citigroup reiterated a "buy" rating on shares of Salesforce in a research report on Wednesday, March 19th. Scotiabank cut their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Piper Sandler decreased their price target on shares of Salesforce from $400.00 to $315.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley cut their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One research 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. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $352.62.

Salesforce Stock Down 0.6%

NYSE CRM traded down $1.59 during trading hours on Tuesday, hitting $286.04. The company's stock had a trading volume of 1,499,321 shares, compared to its average volume of 6,863,244. The company has a market capitalization of $275.00 billion, a PE ratio of 47.02, a price-to-earnings-growth 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. The company's 50-day simple moving average is $268.15 and its two-hundred day simple moving average is $307.16. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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 0.59%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was 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. This trade represents a 16.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,306 shares of company stock valued at $12,841,368. Corporate insiders own 3.20% of the company's stock.

Salesforce 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.