Snowden Capital Advisors LLC Has $11.29 Million Stake in Salesforce, Inc. (NYSE:CRM)

Snowden Capital Advisors LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,733 shares of the CRM provider's stock after purchasing an additional 1,375 shares during the period. Snowden Capital Advisors LLC's holdings in Salesforce were worth $11,292,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the 4th quarter valued at $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce 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 sale, the insider now owns 41,422 shares of the company's stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,527 shares of company stock valued at $14,882,976. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Salesforce stock opened at $290.48 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market cap of $279.26 billion, a P/E ratio of 47.78, a PEG ratio of 2.58 and a beta of 1.42. The company has a 50-day moving average price of $267.83 and a 200 day moving average price of $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.

Salesforce Increases Dividend

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

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Oppenheimer dropped 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. Robert W. Baird reduced their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Salesforce in a research note on Wednesday, March 19th. Westpark Capital restated a "buy" rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their price objective on Salesforce from $425.00 to $375.00 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 issued a hold rating, thirty-two have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $352.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.