643 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Topsail Wealth Management LLC

Topsail Wealth Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 643 shares of the CRM provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after acquiring an additional 175,035 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 1.4% in the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after purchasing an additional 177,321 shares during the last quarter. Norges Bank acquired a new stake in Salesforce during the 4th quarter worth about $3,599,867,000. Price T Rowe Associates Inc. MD raised its stake in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock valued at $2,988,422,000 after buying an additional 1,683,233 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings 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 valued at $2,604,770,000 after buying an additional 2,325,156 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.2 %

Shares of CRM stock opened at $267.87 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market cap of $257.42 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 2.58 and a beta of 1.38. The company’s 50-day moving average price is $273.75 and its 200-day moving average price is $308.27. 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 declared a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a $0.42 dividend. This is a boost from Salesforce’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is 26.10%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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 report on Monday, March 17th. Loop Capital lowered their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group lowered their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have given 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 price target of $351.37.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,705,195. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,051 shares of company stock worth $15,027,714 in the last 90 days. 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.