2,142 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by RFG Bristol Wealth Advisors LLC

RFG Bristol Wealth Advisors LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,142 shares of the CRM provider’s stock, valued at approximately $716,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Salesforce in the 4th quarter worth about $3,599,867,000. Raymond James Financial Inc. purchased a new position in Salesforce during the 4th quarter valued at about $1,173,564,000. Jennison Associates LLC increased its position in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after buying an additional 1,530,572 shares during the period. Swedbank AB lifted its holdings in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Salesforce by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 5,598,423 shares of the CRM provider’s stock valued at $1,871,721,000 after acquiring an additional 1,204,355 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 652 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,660 shares of company stock worth $14,095,336 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.7 %

Salesforce stock opened at $270.18 on Wednesday. The business has a 50-day simple moving average of $307.13 and a two-hundred day simple moving average of $311.78. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. 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 has a market cap of $259.64 billion, a P/E ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s dividend payout ratio (DPR) is currently 26.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRM. The Goldman Sachs Group raised their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Macquarie reaffirmed a “neutral” rating and set a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Finally, Guggenheim restated a “sell” rating and set a $247.00 price target on shares of Salesforce in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

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.